alexisolermeador389
alexisolermeador389
20.12.2019 • 
Business

An amount, p, must be invested now to allow withdrawals of $900 per year for the next 13 years and to permit $320 to be withdrawn starting at the end of year 6 and continuing over the remainder of the 13-year period as the $320 increases by 6% per year thereafter. that is, the withdrawal at eoy seven will be $339, $359.34 at eoy eight, and so forth for the remaining years. the interest rate is 10% per year. what is the p amount?

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