Respuesta :
The money can be withdrawn from the account every two months for the next 6 years is $20, 625, 000
What is compound interest?
The formula for compound interest is given as;
[tex]A = P ( 1 + \frac{r}{n} )^n^t[/tex]
P = principal interest = $25, 000
r = rate = 4. 5%
n = 2 months
t = 6 years
A = [tex]25, 000 ( 1 + \frac{4. 5}{2} )^2 ^*^6[/tex]
A = [tex]25, 000(1 + 0. 75)^1^2[/tex]
A = [tex]25, 000( 825. 00)[/tex]
A = $20, 625, 000
Thus, the money can be withdrawn from the account every two months for the next 6 years is $20, 625, 000
Learn more about compound interest here:
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