Brief Exercise 6-10 Alan Quincy wants to withdraw $32,900 each year for 10 years from a fund that earns 4% interest...

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Brief Exercise 6-10 Alan Quincy wants to withdraw $32,900 each year for 10 years from a fund that earns 4% interest Click her

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Answer 1

Answer #1

First withdrawal at year-end:-

=PV(rate,nper,pmt)

=PV(4%,10,-32900)

=266848

First withdrawal immediately:-

=PV(4%,10,-32900,,1)

=277522

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Answer 2

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Brief Exercise 6-10 Alan Quincy wants to withdraw $32,900 each year for 10 years from a fund that earns 4% interest...

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