If you invest 200 each month for 10 years at 12 per year how

If you invest $200 each month for 10 years at 12% per year, how much could you withdraw each month for the following 20 years assuming the investment continues to provide a 12% return.

a. $506.58

b. $469.88

c. $2,838.59

d. $2,550.43

Solution

answer should be one :

for first 10 years deposits 200 each month so net amount after 10 years =44807.18

AFTER 10 YEARS , THE AMOUNT IS THERE IN BANK AND GETS INTEREST.

TOTAL AMOUNT AFTER 20 YEARS : 138164.30

SO EACH MONTH WIDRWAL CAN BE : 138164.30/240 = 579$ \'

(ALTHOUGH NOT GETTING CORRECT OPTION) TAKING THE MOST FEASIBLE SOLUTION