Amira & Tay each started with $200,000. they retired and both took out $6500 of their money at the end of each year and spent it. Amira had 50% declines in her assets in year two. where as Tay's occured in year three. They both had a 7% increase per year in their assests in the remaining years. Assuming no tax income, what sums did each have at the end of each year for each of the four years following retirement? show work
Amira & Tay each started with $200,000. they retired and both took out $6500 of their money at the end of each year and spent it. Amira had 50% declines in her assets in year two. where as Tay's occured in year three. They both had a 7% increase per year in their assests in the remaining years. Assuming no tax income, what sums did each have at the end of each year for each of the four years following retirement? show work
Chapter11: Invest Or Losses
Section: Chapter Questions
Problem 39P
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Amira & Tay each started with $200,000. they retired and both took out $6500 of their money at the end of each year and spent it. Amira had 50% declines in her assets in year two. where as Tay's occured in year three. They both had a 7% increase per year in their assests in the remaining years. Assuming no tax income, what sums did each have at the end of each year for each of the four years following retirement? show work
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ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT