When abby reaches age of 55, she will deposit $50,000 to fund an annuity with the dallas cowboys insurance company. the money will be invested at 8% each year, compounded semiannually. she is ro draw payments until she reaches age 65. what is the amount of each payment?

The Amount draw from the account after 10 years is $109,555 .

Step-by-step explanation:

Given as :

The principal deposited in account = p = $50,000

The rate of interest = 8% semiannually

The time period for the amount will be in account = t = 10 years

Let The Amount draw from the account after 10 years = $A

Now, From Compound Interest method

Amount = principal ×

A = p ×

Or, A = $50,000 ×

Or, A = $50,000 ×

Or, A = $50,000 × 2.1911

Or, A = $109,555

So, The Amount draw from the account after 10 years = A = $109,555

Hence,The Amount draw from the account after 10 years is $109,555 . Answer

x + 4/7

step-by-step explanation:

use cymath