You would like to deposit funds in an investment account and make equal, annual withdrawals of $75,000
Question:
a.) If you expect the account to earn 6% per year, how much do you have to deposit today?
b.) If you expect the account to earn 8% per year, how much do you have to deposit today?
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Step by Step Answer:
a Take the present value of the 15 payments of 75000 at 6 You would n...View the full answer
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Related Book For 
Applied Equity Analysis and Portfolio Management Tools to Analyze and Manage Your Stock Portfolio
ISBN: 978-1118630914
1st edition
Authors: Robert A.Weigand
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