YOU HAVE $10,000 TO INVEST AND YOU CAN EARN A COMPOUND ANNUAL INTE...

18. You have $10,000 to invest and you can earn a compound annual interest rate of 8% with your savings account. The time line below depicts annual equal cash withdrawals of X dollars that you would like to be able to make at the end of years 4,7,8,9 and 10 out of your savings account, so that there will be no money left after your last withdrawal. What dollar value does X take on if you deposit your $10,000 (last words missing) |---|---|---|---|---|---|---|---|---|---| X X X X X A) $2455.87 B) $2,976.35 C) $3,112.84 D) $3,280.82