You have just inherited $100,000 as a lump-sum amount from your distant aunt. After depositing the money
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You have just inherited $100,000 as a lump-sum amount from your distant aunt. After depositing the money in a practically risk-free certificate of deposit (CD) earning 5% per year, you plan to withdraw $10,000 per year for your living expenses. How many years will your $100,000 last in view of these withdrawals?
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100000 10000 AP 5 N so AP 5 N 010 From Table C8 14 N 15 Table C8 N 1 2 3 145 6 7 8 9 10 HDBHS BDR28 582 28348 8888 11 12 13 14 15 16 17 18 19 20 21 22 ...View the full answer
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Related Book For
Engineering Economy
ISBN: 978-0133439274
16th edition
Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
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