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1.Candice Monroe wants to create a fund today that will enable her to withdraw $32,500 per year for 8 years, with the first withdrawal to
1.Candice Monroe wants to create a fund today that will enable her to withdraw $32,500 per year for 8 years, with the first withdrawal to take place 4 years from today.
if the fund earns 12% interest, how much must Candice invest today? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.)
2.Ayayai Inc. issues $3,600,000 of 7% bonds due in 14 years with interest payable at year-end. The current market rate of interest for bonds of similar risk is 10%.
Amount received by Ayayai when bonds were issued? |
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