# Mathematics - Finite Mathematics

Not what you're looking for? Search our solutions OR ask your own Custom question.

Hal deposited $100 a month in an account paying 9% per annum compounded monthly for 25 years. After 25 years, he stops making deposits. Over the next 35 years, Hal withdraws the same amount of money monthly. What amount does Hal withdraw monthly so his account has a $0 balance at the conclusion of the 35 year period?

(Please see attached file)

Â© BrainMass Inc. brainmass.com March 4, 2021, 9:02 pm ad1c9bdddfhttps://brainmass.com/math/discrete-math/finance-interest-withdrawal-calculation-213187

#### Solution Preview

The solution file is attached.

Hal deposited $100 a month in an account paying 9% per annum compounded monthly for 25 years. After 25 years, he stops making ...

#### Solution Summary

A Complete, Neat and Step-by-step Solution is provided in the attached file.

$2.49