35. You wish to retire after 18 years, at which time you want to have accumulated enough...
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35. You wish to retire after 18 years, at which time you want to have accumulated enough money to receive an annuity of $14,000 a year for 20 years of retirement. During the period before retirement you can earn 11 percent annually, while after retirement you can earn 8 percent on your money. What annual contributions to the retirement fund will allow you to receive the $14,000 annually?
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Foundations Of Financial Management
ISBN: 9780073382388
13th Edition
Authors: Stanley B. Block, Geoffrey A. Hirt, Bartley R. Danielsen
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