Answered: person receives SR10,000 today and…

person receives SR10,000 today and wants to invest it at 8% per year to be able to withdraw SR2000 every year forever. How long does he has to invest his money?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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(b) person receives SR10,000 today and wants to invest it at 8% per year to be able to withdraw SR2000
every year forever. How long does he has to invest his money?

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