Billy plans to withdraw $550 at the end of every 3-months for 20-years from a fund....
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Billy plans to withdraw $550 at the end of every 3-months for 20-years from a fund. He wants to make his first withdrawal 3-months from today. How much does Billy have to deposit today if interest is earned at ja -6% for the first 12-years and ja -8% for the last 8-years? Answer: $ Billy plans to withdraw $550 at the end of every 3-months for 20-years from a fund. He wants to make his first withdrawal 3-months from today. How much does Billy have to deposit today if interest is earned at ja -6% for the first 12-years and ja -8% for the last 8-years? Answer: $ Billy plans to withdraw $550 at the end of every 3-months for 20-years from a fund. He wants to make his first withdrawal 3-months from today. How much does Billy have to deposit today if interest is earned at ja -6% for the first 12-years and ja -8% for the last 8-years? Answer: $ Billy plans to withdraw $550 at the end of every 3-months for 20-years from a fund. He wants to make his first withdrawal 3-months from today. How much does Billy have to deposit today if interest is earned at ja -6% for the first 12-years and ja -8% for the last 8-years? Answer: $
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To solve this problem we can use the present value formula for an annuity PV C 1 1 rn r where PV is ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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