Jane wants to create a fund today that will provide her a 4% guaranteed compounded annual rate.
Question:
Jane wants to create a fund today that will provide her a 4% guaranteed compounded annual rate. She wants to withdraw $15,000 one year from now and $27,000 two years from now, after which the fund will be depleted. How much must she invest today to achieve this goal?
a. $42,400.00
b. $41,912.43
c. $40,775.89
d. $39,386.10
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d 3938610 To calculate how much Jane must invest today we need to find t...View the full answer
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