- Problem 3 Currently You Have 127 000 To Be Entered Into Cell Bl In Your Account You Can Earn A Rate Of 8 17 Per Y 1 (44.2 KiB) Viewed 62 times
Problem #3: Currently you have $127,000 (to be entered into cell Bl] in your account. You can earn a rate of 8.17% per year [to be entered into cell B3] on your account, and plan to withdraw $15897.64 at the end of each year [to be entered into cell B2). B с A 1 Present Value 2 Annual Withdrawal 3 Annual Rate 4 5 Number of Years 6 (a) How long it will take you in years) to exhaust your account (cell B5]? Use the NPER function. (b) What is the correct formula (using 16 characters or less) that should be placed in cell B5? Problem #3(a): Answer correct to 2 decimals Problem #3(b):