Answered

Your fixed expenses are $1,763.25 month. You saved 6 months worth for an emergency fund
in a savings account earning a 4.59 APR over 3 years. After 3 years, you withdrew $4.360.00
because of losing your job. What is your balance after the withdrawal?

Answer :

ASH9988GO

Answer:

$1,763.25 X 6 = $10,579.50  

$10,579.50 X 1.045^3 = $12,072.97  

$12,072.97 - $4,360.00 = $7,712.97  

The balance after the withdrawal is $7,712.97  

Interest lost in one month is:  

$4,360.00 X 4.5% / 12 = $16.35

Answer: $16.35

Go Question: Other Questions