Question
(Ignore income taxes in this problem.) If you wanted to withdraw $12,000 from a bank account at the end of each of the next 20
(Ignore income taxes in this problem.) If you wanted to withdraw $12,000 from a bank account at the end of each of the next 20 years, approximately how much would you have to invest in the account today assuming a 6% interest rate?
| A) $20,924 | ||
| B) $38,462 | ||
| C) $74,880 | ||
| D) $137,604 |
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Performance Auditing Measuring Inputs, Outputs, And Outcomes
Authors: Stephen L. Morgan, Ronell B. Raaum, Colleen G. Waring
3rd Edition
0894139762, 9780894139765
