For how long will a $100,000 fund sustain beginning-of-month withdrawals of $700 if the fund earns: a.

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For how long will a $100,000 fund sustain beginning-of-month withdrawals of $700 if the fund earns:
a. 4% compounded monthly?
b. 5% compounded monthly?
c. 6% compounded monthly?
d. 7% compounded monthly?

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Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

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Question Posted: Jan 20, 2016 07:59 AM

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For how long will a $100,000 fund sustain beginning-of-month withdrawals of $700 if the fund earns: a.

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Given PV due 100000 PMT 700 a j 4 m 12 i 412 Since the 194th withdrawal occurs at ...View the full answer

Business Mathematics In Canada

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