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Using a 6% annual compound interest rate, what investment today is needed in order to withdraw $6,000 annually a. for 10 years? $ 44161 b.
Using a 6% annual compound interest rate, what investment today is needed in order to withdraw $6,000 annually a. for 10 years? $ 44161 b. for 10 years if the first withdrawal does not occur for 3 years? $ Round your answers to the nearest dollar. The tolerance is 2. 37078 eTextbook and Media Hint P is the principal that is borrowed is the interest rate per year. Note that i needs to be a fraction (i-0.06 for 6 %) if using mathematical formula. n is the number of years Solution Save for Later Assistance Used Assistance Used Attempts: 2 of 3 used Submit
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