You will deposit $2,000 today. It will grow for 6 years at 10% interest compounded semiannually. You will then withdraw the funds annually over the next 4 years. The annual interest rate is 8%. Your annual withdrawal will be
You will deposit $2,000 today. It will grow for 6 years at 10% interest compounded semiannually. You will then withdraw the funds annually over the next 4 years. The annual interest rate is 8%. Your annual withdrawal will be
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| You will deposit $14,000 today. It will grow for 8 years at 10% interest compounded semiannually. You will then withdraw the funds annually over the next 6 years. The annual interest rate is 8%. Your annual withdrawal will be: Use Appendix A and Appendix D. (Round "PV Factor" and "FV Factor" to 3 decimal places.) |
$9,858
$7,866
$4,166
$6,611
| Lou Lewis borrows $12,000 to be repaid over 9 years at 8 percent. Repayment of principal in the first year is: Use Appendix D. (Round "PV Factor" to 3 decimal places. Round your intermediate calculations to the nearest dollar value.) |
$1,045
$1,921
$961
$1,188
| Mr. Blochirt is creating a college investment fund for his daughter. He will put in $6,000 per year for the next 16 years and expects to earn a 11% annual rate of return. How much money will his daughter have when she starts college? Use Appendix C. (Round "FV Factor" to 3 decimal places.) |
$235,140
$224,127
235,867
$223,114
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