Question
Your uncle has $955,000 and wants to retire. He expects to live for another 25 years, and he also expects to earn 7.5% on his
Your uncle has $955,000 and wants to retire. He expects to live for another 25 years, and he also expects to earn 7.5% on his invested funds. How much could he withdraw at the beginning of each of the next 25 years and end up with zero in the account?
| a. | $77,305.56 | |
| b. | $79,696.46 | |
| c. | $90,057.00 | |
| d. | $61,366.27 | |
| e. | $74,914.67 |
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Principles Of Finance With Excel
Authors: Simon Benninga
1st Edition
0195301501, 978-0195301502
