The present sum needed to provide for an annual withdrawal of $2,000 for 20 years beginning 5 years from now at an interest rate of 0.12 per year is closest to:

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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The present sum needed to provide for an annual withdrawal of $2,000 for 20 years beginning 5 years from now
at an interest rate of 0.12 per year is closest to:
Note: The given interest is already in decimal form. Do not round in between solution. Final answer round to the nearest whole number. No need put
comma and UOM (unit of measure).
Transcribed Image Text:The present sum needed to provide for an annual withdrawal of $2,000 for 20 years beginning 5 years from now at an interest rate of 0.12 per year is closest to: Note: The given interest is already in decimal form. Do not round in between solution. Final answer round to the nearest whole number. No need put comma and UOM (unit of measure).
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