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Could you please solve this question? Also, can you solve it again using excel? (So need to solve it twice. One time normally, then solve
Could you please solve this question? Also, can you solve it again using excel? (So need to solve it twice. One time normally, then solve it again using excel). Also, the values on excel should be generic values (not fixed).
5-65. An investor has a principal amount of $P If he desires a payout (return) of 0.1P each year, how many years will it take todepletean account that earns 8% per year? 0.1P P(A/P,8%, NO, so N 21 years. A payout duration table can be constructed for select payout percentages and compound interest rates. Complete the following table. (Note: table entries are years.) Summarize your conclusions about the pattern observed in the table. (5.5) Interest Rate per Year 4% 6% 8% 10% 209 Payout per Year 10% of principal) 20% 30%Step by Step Solution
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