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How much money should be on the account today in order for annually withdrawals of $100.00 to be made for the next five years if interest is 8% p.a. compounded annually?

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

ChapterA3: Time Value Of Money

Section: Chapter Questions

Problem 3CE

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