You would like to provide $113,000 a year forever for your heirs. How much money must you deposit today to fund this goal if you can earn a guaranteed 8.2 percent rate of return? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
You would like to provide $113,000 a year forever for your heirs. How much money must you deposit today to fund this goal if you can earn a guaranteed 8.2 percent rate of return? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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You would like to provide $113,000 a year forever for your heirs. How much money must you deposit today to fund this goal if you can earn a guaranteed 8.2 percent
(Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
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