Question
You just won the lottery!You wish to put away enough money so that you can withdraw $8,500 per month for 20 years.You can earn 9.9%
You just won the lottery!You wish to put away enough money so that you can withdraw $8,500 per month for 20 years.You can earn 9.9% rate on any funds you deposit.How much will you have to deposit now to meet your goal? (Note: Withdrawal frequency matches compounding frequency.)
A.$829,659
B.$653,143
C.$886,890
D.$480,100
E.$594,551
F.$536,773
G.$712,179
H.$771,203
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Investment Analysis and Portfolio Management
Authors: Frank K. Reilly, Keith C. Brown, Sanford J. Leeds
11th Edition
1305262999, 1305262997, 035726164X, 978-1305262997
