Joey already knows that he will have $700,000 when he retires. If he sets up a payout annuity for 16 years in an account paying 3.8% interest, how much could the annuity provide each month? Round your answer to the nearest dollar.
Joey already knows that he will have $700,000 when he retires. If he sets up a payout annuity for 16 years in an account paying 3.8% interest, how much could the annuity provide each month? Round your answer to the nearest dollar.
Chapter9: Sequences, Probability And Counting Theory
Section: Chapter Questions
Problem 29RE: Alejandro deposits $80 of his monthly earnings into an annuity that earns 6.25% annual interest,...
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