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Kevin wants to pay $23,000 each year on his investment account and would like to retire with $3,100,000. Assuming the interest rate for Kevin's investment
Kevin wants to pay $23,000 each year on his investment account and would like to retire with $3,100,000. Assuming the interest rate for Kevin's investment account is 12.2% and that it will compound semiannually, how many years will it take before Kevin meets his investment goal of $3,100,000 ? 24.14 years 48.28 years 37.51 years 24.84 years Question 18 2.5pts Assume you will receive a constant stream of $17,500 each year for 35 years. If the interest rate is 11.1% and it will compound annually, what will be the present value of the annuity? $175,000.00 $153,697.40 $157,515.75 $160,245.35
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