Find the present value PV of the annuity account necessary to fund the withdrawal given. (Assume end-of-period withdrawals and compounding at the same intervals as withdrawals. Round your answer to the nearest cent.) $200 per month for 20 years, if the account earns 2% per year

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
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Find the present value PV of the annuity
account necessary to fund the withdrawal
given. (Assume end-of-period withdrawals
and compounding at the same intervals as
withdrawals. Round your answer to the
nearest cent.)
$200 per month for 20 years, if the account
earns 2% per year
Transcribed Image Text:Find the present value PV of the annuity account necessary to fund the withdrawal given. (Assume end-of-period withdrawals and compounding at the same intervals as withdrawals. Round your answer to the nearest cent.) $200 per month for 20 years, if the account earns 2% per year
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