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.) $800 per month for 15 years, if the account earns 6% per year and if there is to be $10,000 left in the annuity at the end of the 15 years PV $128,629.71 X
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.) $800 per month for 15 years, if the account earns 6% per year and if there is to be $10,000 left in the annuity at the end of the 15 years PV $128,629.71 X
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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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.)
$800 per month for 15 years, if the account earns 6% per year and if there is to be $10,000 left in the annuity at the
end of the 15 years
PV $128,629.71 X
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