Question
Robert is planning to live off his savings for a few years. He would like to receive $2800 each month for 6 years from a
Robert is planning to live off his savings for a few years. He would like to receive $2800 each month for 6 years from a fund that pays 6.5% per year compounded monthly. How much must Robert deposit in the fund today to pay for the annuity?
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Personal Finance
Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes, Arshad Ahmad, Jordan Fortino
6th Canadian edition
1259453146, 978-1259453144
