How much do you have to deposit today in order to allow 5, Ask an Expert

Economics

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 year’s withdrawal? The interest rate is 10%.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91559742

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