33. Video Solution Financial planners (and engineering economists) unanimously encourage people to seek out the highest rate

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33. Video Solution Financial planners (and engineering economists) unanimously encourage people to seek out the highest rate of return possible within their personal level of risk tolerance. To illustrate this point, they frequently produce a table similar to the one below. Fill in the blank cells in this table assuming that your goal is to have $1,000,000 on your sixty-fi fth birthday and that deposits start on your twenty-sixth birthday and continue annually in the same amount on each birthday up to and including your sixty-fi fth birthday.

Interest Rate Earned Amount of Required Annual Deposit 4 percent/year 5 percent/year 6 percent/year 7 percent/year 8 percent/year 9 percent/year

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Fundamentals Of Engineering Economic Analysis

ISBN: 9781118414705

1st Edition

Authors: John A. White, Kellie S. Grasman, Kenneth E. Case, Kim LaScola Needy, David B. Pratt

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