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How much would you have to deposit now to be able to withdraw $650 at the end year for 20 years from an account that earns 11% compounded annually? Please solve this step by step
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How much would you have to deposit now to be able to withdraw $650 at the end year for 20 years from an account that earns 11% compounded annually?

Please solve this step by step

User Ler
by
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1 Answer

3 votes

Answer:

information provided:

ordinary annuity = $650

Number of periods (n) = 20 years

Interest rate (r)= 11 percent

User Dom Day
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