Homework Answers
11.
Formula is PV(Rate,Nper,Pmt)
Rate= 0.05/12
Nper= 30*12
Pmt=4000
| Monthly amount to be withdrawn | $4,000 |
| Interest rate | 5% |
| Compounding frequency | Monthly |
| Years | 30.00 |
| Value needed at the beginning | (745,126.47) |
12.
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