Homework answers / question archive / A savings and loan association pays 5% converted quarterly for any saving account

A savings and loan association pays 5% converted quarterly for any saving account

Finance

Share With

A savings and loan association pays 5% converted quarterly for any saving account. A couple decides to plan for a retirement annuity of their own supplement social security. The husband is 50 years old now. The couple decides to deposit $300 at the end of each quarter until the husband is 65. Three months after their last deposit they plan to start drawing on the account with equal withdrawals every 3 months over 15 years. Find the size of the withdrawals *