Question
Charles wants to retire in 17 years. At that time he wants to be able to withdraw $22,000 at the end of each year for
Charles wants to retire in 17 years. At that time he wants to be able to withdraw $22,000 at the end of each year for 20 years. Assume that money can be deposited at 8% per year compounded annually. What exact amount will Charles need in 17 years?
| $215,996.00 | ||
| $211,288.00 | ||
| $334,004.00 | ||
| $220,374.00 |
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Managerial Accounting
Authors: Ray Garrison, Eric Noreen, Peter Brewer
16th edition
978-1259307416
