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7. You would like to retire in 30 years from now, and would want to draw from your account $50,000 per year without depleting the principal. Assume a constant APR 10%. Find: a) The accumulated value A needed to obtain $50,000 at the end of each year? (Find the value whose 10% is 50,000.) b) The regular monthly payments (PMT) required. 7. You would like to retire in 30 years from now, and would want to draw from your account $50,000 per year without depleting the principal. Assume a constant APR 10%. Find: a) The accumulated value A needed to obtain $50,000 at the end of each year? (Find the value whose 10% is 50,000.) b) The regular monthly payments (PMT) required.
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Answer rating: 100% (QA)
To find the accumulated value needed to obtain 50000 at the end of each year we can use the formula ... View the full answer
Related Book For
Financial and Managerial Accounting
ISBN: 978-0132497978
3rd Edition
Authors: Horngren, Harrison, Oliver
Posted Date:
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