Question
How much should you deposit now into an account in order to withdraw $2,000 at the end of each year for the next fifteen years,
How much should you deposit now into an account in order to withdraw $2,000 at the end of each year for the next fifteen years, if the effective interest rate is 7% for the first five years and 8% for the last ten years? (Answer: $17,768.79)
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The International Handbook Of Public Financial Management
Authors: Richard Allen, Richard Hemming, B. Potter
1st Edition
1137574895, 978-1137574893
