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Bess [88]
3 years ago
8

Question 1

Mathematics
1 answer:
Pavlova-9 [17]3 years ago
5 0

Answer:

You'll need to look at the attached formula.

Annual Payout = 500,000 * .12 * (1.12)^15 / [(1.12)^15  -1]

Annual Payout = 500,000 * .12 * 5.4735657593 / [ 5.4735657593 -1]

Annual Payout = 500,000 * .12 * 5.4735657593 / [4.4735657593]

Annual Payout = 60,000 * 5.4735657593 / [4.4735657593]

Annual Payout = 73,412.12

Source: http://www.1728.org/annupay.htm

That's a LOT of calculating :-)

Step-by-step explanation:

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