Solved: You can earn 9 rate on any funds you deposit how much will, Accounting Basics

You can earn 9 rate on any funds you deposit how much will

Question - You just won the lottery! You wish to put enough money away so that you can withdraw $6,000 per month for 45 years. You can earn 9% rate on any funds you deposit. How much will you have to deposit now to meet your goal? (Note: Compounding matches the withdrawal frequency.)

$785,850

$714,970

$745,691

$777,845

$765,313

$773,494

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Accounting Basics: You can earn 9 rate on any funds you deposit how much will

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Accounting Basics: You can earn 9 rate on any funds you deposit how much will

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