Ralph Benke wants to make 8 equal semiannual withdrawals of $8,000 from a fund that will earn
Question:
Ralph Benke wants to make 8 equal semiannual withdrawals of $8,000 from a fund that will earn interest at 11% compounded semiannually.
Required:
How much would Ralph have to invest on:
1. January 1, 2019, if the first withdrawal is made on July 1, 2019
2. July 1, 2019, if the first withdrawal is made on July 1, 2019
3. January 1, 2019, if the first withdrawal is made on January 1, 2022
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1 PV O C p Oni PV O 8000 p On8i55 PV O 8000 6334566 PV O 5067653 2 PV D C p Dni PV D 8000 p Dn8i5...View the full answer
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Related Book For 
Intermediate Accounting Reporting and Analysis
ISBN: 978-1337788281
3rd edition
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
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