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A continuous annuity with withdrawal rate N = $1,300/year and interest rate r = 2% is funded by an initial deposit Po. (a) When
A continuous annuity with withdrawal rate N = $1,300/year and interest rate r = 2% is funded by an initial deposit Po. (a) When will the annuity run out of funds if Po = $64,000? The annuity runs out after approximately Answer to the nearest whole year. years. (b) Which initial deposit Po yields a constant balance? P = $
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
15th edition
77861612, 1259194078, 978-0077861612, 978-1259194078
