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denpristay [2]
3 years ago
10

Al Darby wants to withdraw $20900 (including principal) from an investment fund at the end of each year for five years. How shou

ld he compute his required initial investment at the beginning of the first year if the fund earns 11% compounded annually
Business
1 answer:
labwork [276]3 years ago
4 0

Answer:

$20,900 times the present value of a 5-year, 11% ordinary annuity of 1’

Explanation:

For computing the required initial investment we considered the following information

Withdrawn amount = $20,900

Time period = 5 years

Rate of interest = 11%

in mathematically,

= Withdrawn amount  × Present  value of a 5-year, 11% ordinary annuity of 1’

By this formula we can get the required initial investment

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C because Perishability is used in marketing to describe the way in which service cannot be stored for sale in the future

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4 0
3 years ago
A machine originally had an estimated useful life of 6 years, but after 4 complete years, it was decided that the original estim
lianna [129]

Answer:

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