Question
You won $250 000.00 in a lottery and you want to set some of that sum of money aside for 11.5 years. After 11.5 years,
You won $250 000.00 in a lottery and you want to set some of that sum of money aside for 11.5 years. After 11.5 years, you would like to receive $4500 at the end of each month for 4.75 years. If the interest is 6.79% compounded annually, how much of your winnings must you set aside?
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Financial Accounting Information For Decisions
Authors: Robert w Ingram, Thomas L Albright
6th Edition
9780324313413, 324672705, 324313411, 978-0324672701
