Multiple Choice
A man has won a lottery worth $500,000.He invests this money in a fund paying j2 = 7%.He plans to withdraw $R every 6 months for 25 years,with the first withdrawal made today.What is R?
A) $21,445.20
B) $21,316.85
C) $20,596.00
D) $20,452.63
Correct Answer:
Verified
Correct Answer:
Verified
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