An investor has a principal amount of $P. If he desires a payout (return) of 0.1P each
Question:
0.1P = P(A / P,8%,N), so N ‰… 21 years.
A payout duration table can be constructed for select payout percentages and compound interest rates. Complete the following table.
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Compound interest (or compounding interest) is interest calculated on the initial principal, which also includes all of the accumulated interest from previous periods on a deposit or loan. Thought to have originated in 17th century Italy, compound...
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01 P P AP8N so N 21 years 02 A payout duration table c...View the full answer
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Related Book For 
Engineering Economy
ISBN: 978-0132554909
15th edition
Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
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