You won the lottery today and immediately deposit your funds into an investment account that earns 9% compounded monthly for 3 years until you finish school. You then retire and start to receive your BEGINNING of the month payments of $11,151.98 for 60 years (before the money runs out). How much did you win?? (Timeline is 63 years and interest is 9% comp. monthly for 63 years as well).
You won the lottery today and immediately deposit your funds into an investment account that earns 9% compounded monthly for 3 years until you finish school. You then retire and start to receive your BEGINNING of the month payments of $11,151.98 for 60 years (before the money runs out). How much did you win?? (Timeline is 63 years and interest is 9% comp. monthly for 63 years as well).
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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You won the lottery today and immediately deposit your funds into an investment account that earns 9% compounded monthly for 3 years until you finish school. You then retire and start to receive your BEGINNING of the month payments of $11,151.98 for 60 years (before the money runs out). How much did you win?? (Timeline is 63 years and interest is 9% comp. monthly for 63 years as well).
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