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When his aunt died, Jonathan inherited $30,000. The terms of the will stated that he was to place the money into a savings account for
- When his aunt died, Jonathan inherited $30,000. The terms of the will stated that he was to place the money into a savings account for ten years, and then withdraw equal amounts at the end of each month for 5 years. If interest is 4.37% compounded monthly, what will be the size of each withdrawal?
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Step: 1
First use FV function in EXCEL to find the amount accumualted with inherited amount of 30000 over ...
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South-Western Federal Taxation 2018 Comprehensive
Authors: David M. Maloney, William H. Hoffman, Jr., William A. Raabe, James C. Young
41st Edition
1337386006, 978-1337386005
