Question
You will deposit $2,000 today. It will grow for 10 years at 10% interest compounded semiannually. You will then withdraw the funds annually over the
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You will deposit $2,000 today. It will grow for 10 years at 10% interest compounded semiannually. You will then withdraw the funds annually over the next 8 years. The annual interest rate is 8%. Your annual withdrawal will be: Use Appendix A http://lectures.mhhe.com/connect/0073530727/Images/Appendix_A.JPG and Appendix D. http://lectures.mhhe.com/connect/0073530727/Images/Appendix_D.JPG (Round "PV Factor" and "FV Factor" to 3 decimal places.) |
$499
$923
$2,178
$4,170
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Financial Institutions Investments And Management An Introduction
Authors: Herbert B. Mayo
8th Edition
0324178174, 9780324178173
