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You put $60,000 in the bank today to fund your son's college account. He will make 4 equal withdrawals, starting at the end of
You put $60,000 in the bank today to fund your son's college account. He will make 4 equal withdrawals, starting at the end of this year. Assuming the account eams 6% Interest, how much can he withdraw each year?
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Formula for equal payment amount annuity PMT P r 1 rn 1 rn 1 Where P is the initia...
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Personal Finance Turning Money into Wealth
Authors: Arthur J. Keown
8th edition
134730364, 978-0134730363
