Question
You have accumulated some money for your retirement. You are going to withdraw $60,572 every year at the end of the year for the next
You have accumulated some money for your retirement. You are going to withdraw $60,572 every year at the end of the year for the next 19 years. How much money have you accumulated for your retirement? Your account pays you 3.75 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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Accounting for Governmental and Nonprofit Entities
Authors: Jacqueline L. Reck, James E. Rooks, Suzanne Lowensohn, Daniel Neely
18th edition
1260190080, 1260190083, 978-1259917059
