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Your grandfather left you $40,000 when he died. You can invest the money to earn 9% per year. a. If you spend $7227 per year
Your grandfather left you $40,000 when he died. You can invest the money to earn 9% per year. a. If you spend $7227 per year out of this inheritance, how long will the money last? b. If you spend $3600 per year, how long will the money last? c. What is the most you can spend in equal annual amounts from your inheritance for the next 20 years
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