Question
Hello, Can you help with the below and use the formula to show all the work for me? Thanks 7. Determining the Number of Years.
Hello,
Can you help with the below and use the formula to show all the work for me? Thanks
7. Determining the Number of Years. You discover $40,000 under your pillow, which can be invested at a rate of 18% per year. If you spend $11,435 per year, how long will the money last?
HINT: $40,000 = $11,435 (PVAF 18%, n)
or $40,000 = $11,435 x ((1-1/1.18n)/.18) and solve for n
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Handbook Of Research On Theory And Practice Of Financial Crimes
Authors: Abdul Rafay
1st Edition
1799855678, 978-1799855675
