How long (before the first withdrawal) must a $19,665 investment earning 9.5% compounded semiannually be allowed to

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How long (before the first withdrawal) must a $19,665 investment earning 9.5% compounded semiannually be allowed to grow before it can provide 60 quarterly withdrawals of $1000?

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Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

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Question Posted: Jan 20, 2016 07:46 AM

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How long (before the first withdrawal) must a $19,665 investment earning 9.5% compounded semiannually be allowed to

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The initial investment equals the present value of the withdrawals Gi...View the full answer

Business Mathematics In Canada

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