Question
George plans to save $42,200.00 per year for 5 years. His first savings contribution is expected in 1 year. He then plans to withdraw $44,841.07
George plans to save $42,200.00 per year for 5 years. His first savings contribution is expected in 1 year. He then plans to withdraw $44,841.07 per year for as long as he can. George expects to earn 11.35 percent per year. How many payments of $44,841.07 can George expect to receive if his first annual payment of $44,841.07 is received in 5 years?George plans to save $42,200.00 per year for 5 years. His first savings contribution is expected in 1 year. He then plans to withdraw $44,841.07 per year for as long as he can. George expects to earn 11.35 percent per year. How many payments of $44,841.07 can George expect to receive if his first annual payment of $44,841.07 is received in 5 years?
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