Amy Monroe wants to create a fund today that will enable her to withdraw $25,000 per year

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Amy Monroe wants to create a fund today that will enable her to withdraw $25,000 per year for 8 years, with the first withdrawal to take place 5 years from today. If the fund earns 8% interest, how much must Amy invest today?

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Intermediate Accounting

ISBN: 978-0470587287

14th Edition

Authors: kieso, weygandt and warfield.

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Question Posted: Oct 11, 2011 09:05 AM

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Amy Monroe wants to create a fund today that will enable her to withdraw $25,000 per year

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PV OA 25000 PVF OA 124 8 PV OA 25000 PVF OA 8 8 PVF 4 8 OR P...View the full answer

Intermediate Accounting

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