Click into it and you will be able to see it clearly, please help You want to be able to withdraw $45,000 each year for 25 years. Your account earns 6% interest.a) How much do you need in your account at the beginning?b) How much total money will you pull out of the account?%24c) How much of that money is interest?Question Help: Video1 Video 2 DVideo 3 Message instructorI CalculatorSubmit Question

Given: Withdraw amount =$45000Interest rate annually =6%Time=25 years

You want to be able to withdraw $45,000 each year for 25 years. Your account earns 6% interest. a) How much do you need in your account at the beginning? %$4 b) How much total money will you pull out of the account? $4 c) How much of that money is interest?

You want to be able to withdraw $45,000 each year for 25 years. Your account earns 6% interest. a) How much do you need in your account at the beginning? %$4 b) How much total money will you pull out of the account? $4 c) How much of that money is interest?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

ChapterM: Time Value Of Money Module

Section: Chapter Questions

Problem 4MC: Refer to the present value table information on the previous page. What amount should Brett have in...

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Click into it and you will be able to see it clearly, please help

You want to be able to withdraw $45,000 each year for 25 years. Your account earns 6% interest.
a) How much do you need in your account at the beginning?
b) How much total money will you pull out of the account?
%24
c) How much of that money is interest?
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