Question
You have accumulated some money for your retirement. You are going to withdraw $86,239 every year at the end of the year for the next
You have accumulated some money for your retirement. You are going to withdraw $86,239 every year at the end of the year for the next 29 years. How much money have you accumulated for your retirement? Your account pays you 15.10 percent per year, compounded annually. To answer this question, you have to find the present value of these cash flows.
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Fundamentals of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
11th edition
324422870, 324422873, 978-0324302691
