You plan to save $X per year for 7 years, with your first savings contribution later today. You and your heirs then plan to withdraw $31,430 per year forever, with your first withdrawal expected in 8 years. What is X if the expected return per year is 14.95 percent per year per year? Input instructions: Round your answer to the nearest dollar. 6A $
You plan to save $X per year for 7 years, with your first savings contribution later today. You and your heirs then plan to withdraw $31,430 per year forever, with your first withdrawal expected in 8 years. What is X if the expected return per year is 14.95 percent per year per year? Input instructions: Round your answer to the nearest dollar. 6A $
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 9EB: If you invest $15,000 today, how much will you have in (for further instructions on future value in...
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Transcribed Image Text:You plan to save $X per year for 7 years, with your first savings contribution later today. You and your heirs then plan to withdraw
$31,430 per year forever, with your first withdrawal expected in 8 years. What is X if the expected return per year is 14.95 percent per
year per year?
Input instructions: Round your answer to the nearest dollar.
6A
$
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