Question
You have accumulated some money for your retirement. You are going to withdraw $66,343 every year at the end of the year for the next
You have accumulated some money for your retirement. You are going to withdraw $66,343 every year at the end of the year for the next 25 years. How much money have you accumulated for your retirement? Your account pays you 10.67 percent per year, compounded annually. To answer this question, you have to find the present value of these cash flows.
Round the answer to two decimal places.
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Financial Institutions Management A Risk Management Approach
Authors: Anthony Saunders, Marcia Millon Cornett
9th edition
1259717771, 1259717772, 9781260048186, 1260048187, 978-1259717772
