Electric Corporation wants to withdraw $30,000 from an account at the end of each year for five

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Electric Corporation wants to withdraw $30,000 from an account at the end of each year for five years. What should be the required initial investment at the beginning of the first year if the fund earns 6% compounded annually?

Related Book For answer-question

Fundamentals of Investing

ISBN: 978-0133075359

12th edition

Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk

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Posted Date: Nov 16, 2017 04:26 AM

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Electric Corporation wants to withdraw $30,000 from an account at the end of each year for five

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The required initial investment is 12637091 The cash inf... View the full answer

Fundamentals of Investing

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