Question
a) How much would you have to invest at 6% p.a. on January 1, 2004, in order to accumulate $1791 on January 1, 2010. b)
a) How much would you have to invest at 6% p.a. on January 1, 2004, in order to accumulate $1791 on January 1, 2010.
b) What is the present worth on January 1, 2003 of $1263 on January 1, 2010, if interest is at 6% p.a.?
c) If $840 is invested at 6% pa on January 1, 2003, what equal year-end Withdrawals can be made each year for 10 years to leave nothing in the fund after the tenth Withdrawal?
d) How much can be accumulated in a fund, earning 6% p-a., at the end of 10 years if $114.10 is deposited at the end of each year for 10 years, beginning in 2003?
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a Let amount to be invested P Then P 1791PF 6 1 P 17919434 P 168963 or 1690 b Let ...Get Instant Access to Expert-Tailored Solutions
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Contemporary Financial Management
Authors: R. Charles Moyer, James R. McGuigan, Ramesh P. Rao
13th edition
1285198840, 978-1285198842
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