How much money can she withdraw in twenty equal payments


Problem

LaQuita deposits $3500 in her retirement account every year. If her accountpays an average of 6% interest and she makes 38 deposits before she retires, how much money can she withdraw in 20 equal payments beginning one year after her last deposit? Contributed by Paul R. McCright, University of South Florida.

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: How much money can she withdraw in twenty equal payments
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