Yarianny wants to withdraw $25,000 annually starting today for the next 20 years and will increase the

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Yarianny wants to withdraw $25,000 annually starting today for the next 20 years and will increase the withdrawals by 3.5% each year. If the annuity can earn 6% compounded semi- annually, how much money needs to be invested in the fund today?

Related Book For answer-question

Personal Financial Planning

ISBN: 9780357438480

15th Edition

Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Posted Date: Mar 29, 2024 04:22 PM

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Yarianny wants to withdraw $25,000 annually starting today for the next 20 years and will increase the

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Personal Financial Planning

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