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Please help me with the following problem, what is the formula used to solve? thank you! Question 2 Sally Monroe wants to create a fund
Please help me with the following problem, what is the formula used to solve? thank you!
Question 2 Sally Monroe wants to create a fund today that will enable her to withdraw $28,500 per year for 7 years, with the first withdrawal to take place 5 years from today. Click here to view factor tables If the fund earns 9% interest, how much must Sally invest today? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to O decimal places, e.g. 458,581.) Investment amountStep by Step Solution
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