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borteleto borteleto
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5 years ago
You sell valuable artifacts from your household estate for $200,000 and want to use the money to supplement your retirement. You receive the money on your 60th birthday, the day you retire. You want to withdraw equal amounts at the end of each of the next 25 years. What constant amount can you withdraw each year and have nothing remaining at the end of 20 years if you are earning 7% interest per year?
A) $17,162
B) $28,318
C) $37,574
D) $49,113
Textbook 
Foundations of Finance

Foundations of Finance


Edition: 9th
Authors:
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DeanaRayDeanaRay
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borteleto Author
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5 years ago
White Heavy Checkmark
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#3
5 years ago
Don't forget to rate the answer too
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3 years ago
thank you
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#5
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thank you
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