Use Tables 12-1 and 12-2 from your text to answer the following problems. (Round dollars to the nearest cent)
-Refer to Narrative in your text 12-1. Earl Watkins is ready to retire and has saved up $250,000 for that purpose. He wants to amortize that amount in a retirement fund so that he will receive equal annual payments over the next 20 years. At the END of 20 years, there will be no funds left in the account. If the fund earns 17% interest compounded annually, how much will Earl receive each year?

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The Answer of Use Tables 12-1 and 12-2 from your text to answer the following problems. (Round dollars to the nearest cent)
-Refer to Narrative in your text 12-1. Earl Watkins is ready to retire and has saved up $250,000 for that purpose. He wants to amortize that amount in a retirement fund so that he will receive equal annual payments over the next 20 years. At the END of 20 years, there will be no funds left in the account. If the fund earns 17% interest compounded annually, how much will Earl receive each year?

Use Tables 12-1 and 12-2 from Your Text to Answer