If $80,000 is invested in a fund on December 31, 2016, what is the amount of each

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If $80,000 is invested in a fund on December 31, 2016, what is the amount of each of 6 annual withdrawals starting on December 31, 2017, that would deplete the fund if the interest rate earned in the fund is 10% compounded annually?

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Intermediate Accounting Reporting and Analysis

ISBN: 978-1337788281

3rd edition

Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach

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Question Posted: Feb 16, 2018 07:42 AM

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If $80,000 is invested in a fund on December 31, 2016, what is the amount of each

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Present value of outflows Cash outflow...View the full answer

Intermediate Accounting Reporting and Analysis

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