If Ellen won $250,000 the last week in February, 1996 and invested it by March 1, 1996 in a "sure thing" that pays 8% interest, compounded annually, what uniform annual amount can she withdraw on the first of March for 15 years starting in 2004?
If Ellen won $250,000 the last week in February, 1996 and invested it by March 1, 1996 in a "sure thing" that pays 8% interest, compounded annually, what uniform annual amount can she withdraw on the first of March for 15 years starting in 2004?
Chapter4: Time Value Of Money
Section: Chapter Questions
Problem 10PROB
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