Question
Bodhi is retiring with $2,000,000. If he takes out $20,000 a month, starting in one month, and the monthly interest rate is 50 basis points,
Bodhi is retiring with $2,000,000. If he takes out $20,000 a month, starting in one month, and the monthly interest rate is 50 basis points, how many months will his money last, if he wants to keep $100,000 in the account at the end? 3. Cong Ming won the lottery! The prize is $50,000 per year starting in one year for 20 years. J.G. Wentworth offered to purchase his payments for $700,000. What rate of return will J.G. Wentworth earn on their investment?
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Engineering Economic Analysis
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