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7. You would like to retire in 30 years from now, and would want to draw from your account $50,000 per year without depleting
7. You would like to retire in 30 years from now, and would want to draw from your account $50,000 per year without depleting the principal. Assume a constant APR 10%. Find: a) The accumulated value A needed to obtain $50,000 at the end of each year? (Find the value whose 10% is 50,000.) b) The regular monthly payments (PMT) required.
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To find the accumulated value needed to obtain 50000 at the end of each year we can use the formula ...
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Financial and Managerial Accounting
Authors: Horngren, Harrison, Oliver
3rd Edition
978-0132497992, 132913771, 132497972, 132497999, 9780132913775, 978-0132497978
