Your grandmother just died and left you $40,000 in a trust fund that pays 6.5%...
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Your grandmother just died and left you $ in a trust fund that pays interest. You must spend the money on your college education, and you must withdraw the money in equal installments, beginning immediately. How much could you withdraw today and at the beginning of each of the next years and end up with zero in the account? $ $ $ $ $ 
Your grandmother just died and left you $ in a trust fund that pays interest. You must spend the money on your college education, and you must withdraw the money in equal installments, beginning immediately. How much could you withdraw today and at the beginning of each of the next years and end up with zero in the account?
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