Suppose you inherited $275,000 and invested it at 8.25% per year. How much could you withdraw at the end of each of the next 20 years? $28,532 $29,959 $31,457 $33,030

withdraw amount  = 28532.45

so correct option is  a. $28,532

Explanation:

given data

present amount  = $275,000 bonus

interest rate = 8.25% per year  = 0.0825

time period = 20 year

solution

first we get here Cumulative discount factor that is

Cumulative discount factor =   .........................1

here r is rate and t is time period

put here value and we will get

Cumulative discount factor =    

solve it we get

Cumulative discount factor =  9.638148

and now we get  so here withdraw amount at the end of each of the next 20 years that is

withdraw amount = Present amount ÷ cumulative discount factor   ............2

put here value

withdraw amount =    

solve it we get

withdraw amount  = 28532.45

so correct option is  a. $28,532

it's actually a very difficult task, due to not many people can make 2 million dollars in 2 years. besides that, to the not-so-realistic ideas, you can create a business. it could be practically anything, but make it into a business that isn't that known yet, you get me? also, lets not forget about stock market. that's where all the good stuff happens. use investments at the beginning and begin to raise up your business or whatever you're going to do. as this is a very non-realistic idea, it's still worth the shot!