Without using Excel and using the formula, Cheryl is setting up a payout annuity and wishes to receive $1200 per month for 20 years. A. How much does she have to deposit if her money earns 8% interest compounded monthly? B. Find the total amount Cheryl will receive from her payout annuity.
Without using Excel and using the formula, Cheryl is setting up a payout annuity and wishes to receive $1200 per month for 20 years. A. How much does she have to deposit if her money earns 8% interest compounded monthly? B. Find the total amount Cheryl will receive from her payout annuity.
Chapter2: Gross Income And Exclusions
Section: Chapter Questions
Problem 14MCQ
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Without using Excel and using the formula,
Cheryl is setting up a payout
A. How much does she have to deposit if her money earns 8% interest compounded monthly?
B. Find the total amount Cheryl will receive from her payout annuity.
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