Sarah Smith has saved $273000 for her retirement. It is invested in an annuity that pays...
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Sarah Smith has saved $273000 for her retirement. It is invested in an annuity that pays 12%. Sarah wishes to make equal semi-annual withdrawals over the next 10 years, beginning 6 months from now. How much can she withdraw each period without exhausting her initial investment? PV Annuity due 12% PV Annuity due 6% PV Ordinary annuity 12% PV Ordinary annuity 6% Time periods Factor 10 20 10 20 6.32825 12.15812 5.65022 11.46992 Sarah Smith has saved $273000 for her retirement. It is invested in an annuity that pays 12%. Sarah wishes to make equal semi-annual withdrawals over the next 10 years, beginning 6 months from now. How much can she withdraw each period without exhausting her initial investment? PV Annuity due 12% PV Annuity due 6% PV Ordinary annuity 12% PV Ordinary annuity 6% Time periods Factor 10 20 10 20 6.32825 12.15812 5.65022 11.46992
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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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