How much money do you need to deposit in a bank account now so that you can years forever if the interest rate is 6% per year, and the first withdrawal is scheduled 6 years from now? O a. $23,146 O b. $33,146 O c. $27,022 O d. $23,894 O e. $162,133

How much money do you need to deposit in a bank account now so that you can years forever if the interest rate is 6% per year, and the first withdrawal is scheduled 6 years from now? O a. $23,146 O b. $33,146 O c. $27,022 O d. $23,894 O e. $162,133

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 8EA: You put $250 in the bank for S years at 12%. A. If interest is added at the end of the year, how...

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How much money do you need to deposit in a bank account now so that you can withdraw $10,000 every 6
years forever if the interest rate is 6% per year, and the first withdrawal is scheduled 6 years from now?
O a. $23,146
O b. $33,146
O c. $27,022
d. $23,894
e. $162,133

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