How much would Howard Steele need to invest today so that he may withdraw $12,000 each year for the next 20 years, assuming a rate of 8% compounded annually?
A) $117,817.77
B) $454,144.00
C) $112,817.20
D) $549,144
E) None of these
Correct Answer:
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A)Requires at the beginning one
Q26: Ordinary annuity payments are made:
A)At the end
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Q30: The present value of an ordinary annuity:
A)Tells
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A) Daily
B)
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Q40: An annuity is:
A)Not used by lotteries today
B)A
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