uppose you earned a $720,000 bonus this year and invested it at 8.25% per year. How much could you withdraw at the end of each of the next 20 years?
Select the correct answer.
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Present value of annuity=Annuity[1-(1+interest rate)^-time period]/rate
720,000=Annuity[1-(1.0825)^-20]/0.0825
720,000=Annuity*9.63814791
Annuity=720,000/9.63814791
=$74703.15(Approx).
uppose you earned a $720,000 bonus this year and invested it at 8.25% per year. How...
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