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meriva
3 years ago
13

BE6.10 (LO 4) Henry Quincy wants to withdraw $30,000 each year for 10 years from a fund that earns 8% interest. How much must he

invest today if the first withdrawal is at year-end
Business
1 answer:
marin [14]3 years ago
3 0

Answer:

$201,302

Explanation:

Calculation for How much must he invest today if the first withdrawal is at year-end

First step is to calculate (FVF-OAn,i) using financial calculation

R = 30,000

n = 10

i = 8%

(FVF-OAn,i)=(6.71008)

Now let calculate the amount to be Invested today using this formula

Investment today = R (FVF-OAn,i)

Let plug in the formula

Investment today= 30,000 (6.71008)

Investment today = $201,302

Therefore the amount he must invest today if the first withdrawal is at year-end is $201,302

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Answer:

It cost $5.84 to run the LED bulb for one year if it runs for five hours a day.

Explanation:

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  = (16W)(365*5)

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8 0
4 years ago
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Answer:

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8 0
3 years ago
your going to a pool but is one hour away and your father says we are going to the shop that is 2 minutes away witch one will yo
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3 years ago
The value chain expresses the idea that different functions within the firm are interconnected and only by working together can
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Answer:

True.

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Answer:

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