Yesterday you won $340,000 and decided to invest your money at 9.15% per year (compounded annually). How much money could you withdraw at the end of the next 14 years?
A. 
$39,654.39 

B. 
$43,685.53 

C. 
$44,036.48 

D. 
$46,556.22 

E. 
$44,001.93 
Withdaw in each year (P)  PVA÷([1(1÷(1+r)^n)]÷r)  
Here,  
A  Interest rate per annum  9.15% 
B  Number of years  14 
C  Number of compoundings per per annum  1 
A÷C  Interest rate per period ( r)  9.15% 
B×C  Number of periods (n)  14 
Present value (PVA)  $ 340,000.00  
Withdaw in each year (P)  $ 44,036.48  
340000÷((1(1÷(1+9.15%)^14))÷9.15%) 
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