Henry Quincy wants to withdraw $30,000 each year for 10 years from a fund that earns 8%

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Henry Quincy wants to withdraw $30,000 each year for 10 years from a fund that earns 8% interest. How much must he invest today if the first withdrawal is at year-end? How much must he invest today if the first withdrawal takes place immediately?

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Intermediate Accounting

ISBN: 978-0470587287

14th Edition

Authors: kieso, weygandt and warfield.

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Question Posted: Oct 11, 2011 09:05 AM

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Henry Quincy wants to withdraw $30,000 each year for 10 years from a fund that earns 8%

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First withdrawal at yearend n 10 PV OA 30000 PVF O...View the full answer

Intermediate Accounting

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