Question
You want to be able to withdraw $40,000 each year for 25 years. Your account earns 8% interest. a) How much do you need in
You want to be able to withdraw $40,000 each year for 25 years. Your account earns 8% interest.
a) How much do you need in your account at the beginning?
$
b) How much total money will you pull out of the account?
$
c) How much of that money is interest?
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Business Analysis And Valuation Using Financial Statements
Authors: Krishna G Palepu, Paul M Healy
4th Edition
032430286X, 9780324302868
