Question
If I invest $1,050,000 and require annual payments for 19 years at an investment rate of 7%, what would be annual amount. Please provide formula
If I invest $1,050,000 and require annual payments for 19 years at an investment rate of 7%, what would be annual amount. Please provide formula (excel and calculator) and calculation?
Step by Step Solution
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Step: 1
To calculate the annual payment for a loan or investment using an annuity formula we can use ...
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Step: 2
Step: 3
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Engineering Economy
Authors: Leland T. Blank, Anthony Tarquin
8th edition
73523439, 73523437, 978-0073523439
