Sally Mander wants to set up a perpetual annuity for herself that will pay $85,000 annually that will begin 40 years from now. Assuming an interest rate of 8% and with the impact of inflation of 3%, how much will Sally need to save annually? $7,071 $8,073 $6,562 O $9,075
Sally Mander wants to set up a perpetual annuity for herself that will pay $85,000 annually that will begin 40 years from now. Assuming an interest rate of 8% and with the impact of inflation of 3%, how much will Sally need to save annually? $7,071 $8,073 $6,562 O $9,075
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter9: Current Liabilities, Contingencies, And The Time Value Of Money
Section: Chapter Questions
Problem 9.17E
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