Question
Amy Monroe wants to make a fund today that will enable her to withdraw $25,000per year for8years, with the first withdrawal to take place5years from
Amy Monroe wants to make a fund today that will enable her to withdraw $25,000per year for8years, with the first withdrawal to take place5years from today.
If the fund earns8% interest, how much must Amy invest today?(Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.)
Investment amount $__________?
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Management Accounting
Authors: Kim Langfield Smith, Helen Thorne, David Alan Smith, Ronald W. Hilton
7th Edition
978-1760421144, 1760421146
