Question
Alfred receives a small inheritance of $40,000 that accumulates at a force of interest of 4% continuously. If Alfred withdraws money continuously at the
Alfred receives a small inheritance of $40,000 that accumulates at a force of interest of 4% continuously. If Alfred withdraws money continuously at the rate of $2,000 per year, find the time for which the inheritance is depleted.
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Financial Management for Public Health and Not for Profit Organizations
Authors: Steven A. Finkler, Thad Calabrese
4th edition
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