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Umnica [9.8K]
3 years ago
9

"Assume that Stephanie accumulates savings of $ 2 million by the time she retires. If she invests this savings at 12​%, how much

money will she be able to withdraw at the end of each year for 20 ​years?"
Business
1 answer:
Lyrx [107]3 years ago
7 0

Answer:

Explanation:

This is an annuity question. Use present value of annuity formula to solve this;

You can use a financial calculator to solve it. I'm using "Texas instrument BA II plus" calculator

<em>(Note: if using the same calculator as above ,enter the numbers first, then each respective function )</em>

N ; duration on investment = 20

I/Y; interest rate per year = 12%

PV; Present value = -2,000,000

FV; Future value = 0 (in annuities, use 0 if not given)

then CPT PMT = 267,757.56

Therefore, Stephanie will be able to withdraw $267,757.56

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Answer: c. it ensures productive efficiency.

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The average cost pricing is used by the government in order to control the price that may be charged by the monopolist.

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<h3>What exactly is socioeconomic inequality?</h3>

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