You want to be able to withdraw $45,000 each year for 30 years. Your account earns 10% interest. a) How much do you need in your account at the beginning? (Round to the nearest cent.) $ b) How much total money will you pull out of the account? (Round to the nearest cent.) $ c) How much of that money is interest? (Round to the nearest cent.) $
You want to be able to withdraw $45,000 each year for 30 years. Your account earns 10% interest. a) How much do you need in your account at the beginning? (Round to the nearest cent.) $ b) How much total money will you pull out of the account? (Round to the nearest cent.) $ c) How much of that money is interest? (Round to the nearest cent.) $
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 3PB: Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate...
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