Respuesta :
Answer:
$20,676.53
Explanation:
The qeustion is to determine Future Value of the withdrawal Anna will make in 4 years
Amount in Savings - Amount Withdrawn today) x 1 + rate - Amount to be withdrawn a year from today ) x 1 + rate ∧3 years
$38,654 - $10,000 x 1.023
= $28,564 x 1.023
= 29,313.042- 10,000 =
19,313.042 x 1.023 ∧3
=19,313.042x 1.070599167
$20,676.53
This means that after withdrawing $10,000 to day and another $10,000 one year form today, from Anna's initial savings of $38,654, she will be able to withdraw her entire balance of $20,676.53 in 4 years time.
Anna would withdraw $20,676.53 in four years from now.
The saving account has $38,654 that is giving 2.3% interest to Anna. If 10,000 is withdrawn today and 10,000 next year then the remaining amount that could be withdrawn in the next four years would be:
[tex][(38654-10,000)*(1.023-10,000)*1.023^{3} \\=20676.53[/tex]
Hence, all the amount in the savings account, that is, $20676.53 would be withdrawn by Anna.
Learn more about savings and withdrawal here:
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