You are going to receive a payment at the end of each year for the next 12 years. If you invest each of those amounts at 12%, then what amount of money will you need to receive each year in order to have $1,930.65 th at the end of the 12 year?

You are going to receive a payment at the end of each year for the next 12 years. If you invest each of those amounts at 12%, then what amount of money will you need to receive each year in order to have $1,930.65 th at the end of the 12 year?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 2P

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Question

You are going to receive a payment at the end
of each year for the next 12 years. If you
invest each of those amounts at 12%, then
what amount of money will you need to
receive each year in order to have $1,930.65
at the end of the 12" year?
th

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