How much would a business have to invest in a fund to receive $21,000 at the end

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How much would a business have to invest in a fund to receive $21,000 at the end of every month for 7 years? The fund has an interest rate of 4.50% compounded monthly and the first withdrawal is to be made in 2 years and 1 month.

Related Book For answer-question

Financial Management for Public Health and Not for Profit Organizations

ISBN: 978-0132805667

4th edition

Authors: Steven A. Finkler, Thad Calabrese

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Posted Date: Apr 20, 2024 01:36 PM

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How much would a business have to invest in a fund to receive $21,000 at the end

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ANSWER To solve this problem we need to find the present value of the annuity that will provide 2100... View the full answer

Financial Management for Public Health and Not for Profit Organizations

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