How much do you have to deposit today in order to allow 9, Ask an Expert

Economics

How much do you have to deposit today in order to allow 9 annual withdrawals, beginning at the end of year 17, with a first withdrawal of $1748 and with subsequent withdrawals decreasing at the rate of 4% over the previous year’s withdrawal? Assume an interest rate of 6% compounded annually.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91705754

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