An individual who is 22 years old wins an amount of 5000., Ask an Expert

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Someone who is 22 years old wins a prize of 5000$. He invests the money at 8% compounded quarterly for 43 years until he retires. When he retires he invests the money at 7% compounded monthly and makes equal monthly withdrawals for further 25 years at which time the money would ran out. How much money would he get each month?

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Corporate Finance, Finance

Category:- Corporate Finance
Reference No.:- M9221477

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