How much do you have to deposit today in order to allow 5 annual withdrawals, beginning at
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How much do you have to deposit today in order to allow 5 annual withdrawals, beginning at the end of year 8, with the first withdrawal of $1000 with subsequent withdrawals decrease at the rate of 5% over previous yea's withdrawal? The interest rate is 10%.
Related Book For
Financial Management Principles and Applications
ISBN: 978-0133423822
12th edition
Authors: Sheridan Titman, Arthur Keown, John Martin
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