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Jim Hunter has decided to retire to Florida in 10 years. What amount should Jim invest today so that ...

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Jim Hunter has decided to retire to Florida in 10 years. What amount should Jim invest today so that ...

Jim Hunter has decided to retire to Florida in 10 years. What amount should Jim invest today so that he will be able to withdraw $25,000 at the end of each year for 30 years after he retires? Assume he can invest money at 9% interest compounded annually.

Note: Round your answer to the nearest cent.

Textbook

Math for Business and Finance: an Algebraic Approach

Edition: 3^rd

Author: Slater

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