Answer:
account would be empty in 2 months
Step-by-step explanation:
0, 1, 2
sorry im not sure i think thsi may be missing some information
Answer: the answer is 5/24
Step-by-step explanation:
If you do 7/8 - 2/3 you get 5/24 and to check your work, do 7/8 - 5/24 and you get 2/3
Hope this helps ^^
PV = P(1 - (1 + r)^-n) / r; where P is the periodic withdrawal = $100,000; r = rate = 5% = 0.05; n = number of periods = 20 years.
PV = 100000(1 - (1 + 0.05)^-20) / 0.05 = 100000(1 - 1.05^-20) / 0.05 = 100000(1 - 0.3769) / 0.05 = 100000(0.6231) / 0.05 = 100000(12.4622) = 1,246,221 ≈ $1,250,000
