Refer to Question 7 above. Solve using the financial calculator, documenting your steps/keystrokes. Data from Question 7

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Refer to Question 7 above. Solve using the financial calculator, documenting your steps/keystrokes.

Data from Question 7

You wish to draw from a fund you’re creating today with a 3% guaranteed compounded annual rate. You hope to withdraw $40,000 one year from now, $35,000 two years from now, and $25,000 three years from now, at which point the fund will be depleted. How much must you invest today to achieve this?

a. $94,704.35 

b. $95,346.98 

c. $95,255.12 

d. $95,945.78

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Related Book For  answer-question

Principles Of Finance

ISBN: 9798439388899

1st Edition

Authors: Julie Dahlquist, Rainford Knight

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