The lump sum Carolyn Ellis need to set aside today at 6% annual interest to have the same retirement fund as she set aside $2000 at the end of each year at 6% interest rate for 20 years. Find the difference in amount that she needs to invest in periodic payments than the lump sum investment.

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Answer 1

Question

Chapter 14, Problem 2CP

To determine

To calculate: The lump sum Carolyn Ellis need to set aside today at 6% annual interest to have the same retirement fund as she set aside $2000 at the end of each year at 6% interest rate for 20 years. Find the difference in amount that she needs to invest in periodic payments than the lump sum investment.

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Answer 2

Question

Chapter 14, Problem 2CP

To determine

To calculate: The lump sum Carolyn Ellis need to set aside today at 6% annual interest to have the same retirement fund as she set aside $2000 at the end of each year at 6% interest rate for 20 years. Find the difference in amount that she needs to invest in periodic payments than the lump sum investment.

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Answer 3

Question

Chapter 14, Problem 2CP

To determine

To calculate: The lump sum Carolyn Ellis need to set aside today at 6% annual interest to have the same retirement fund as she set aside $2000 at the end of each year at 6% interest rate for 20 years. Find the difference in amount that she needs to invest in periodic payments than the lump sum investment.

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Answer 4

Question

Chapter 14, Problem 2CP

To determine

To calculate: The lump sum Carolyn Ellis need to set aside today at 6% annual interest to have the same retirement fund as she set aside $2000 at the end of each year at 6% interest rate for 20 years. Find the difference in amount that she needs to invest in periodic payments than the lump sum investment.

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Answer 5

Chapter 14, Problem 2CP

To determine

To calculate: The lump sum Carolyn Ellis need to set aside today at 6% annual interest to have the same retirement fund as she set aside $2000 at the end of each year at 6% interest rate for 20 years. Find the difference in amount that she needs to invest in periodic payments than the lump sum investment.

Answer 6

Chapter 14, Problem 2CP

To determine

To calculate: The lump sum Carolyn Ellis need to set aside today at 6% annual interest to have the same retirement fund as she set aside $2000 at the end of each year at 6% interest rate for 20 years. Find the difference in amount that she needs to invest in periodic payments than the lump sum investment.

Answer 7

Chapter 14, Problem 2CP

To determine

To calculate: The lump sum Carolyn Ellis need to set aside today at 6% annual interest to have the same retirement fund as she set aside $2000 at the end of each year at 6% interest rate for 20 years. Find the difference in amount that she needs to invest in periodic payments than the lump sum investment.

Answer 8

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Answer 9

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Answer 10

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Answer 11

Ch. 14.1 - Prob. 1-1SC Ch. 14.1 - Prob. 1-2SC Ch. 14.1 - Prob. 1-3SC Ch. 14.1 - Prob. 1-4SC Ch. 14.1 - Prob. 2-1SC Ch. 14.1 - Prob. 2-2SC Ch. 14.1 - Prob. 2-3SC Ch. 14.1 - Prob. 2-4SC Ch. 14.1 - Prob. 2-5SC Ch. 14.1 - Prob. 2-6SC

The lump sum Carolyn Ellis need to set aside today at 6% annual interest to have the same retirement fund as she set aside $2000 at the end of each year at 6% interest rate for 20 years. Find the difference in amount that she needs to invest in periodic payments than the lump sum investment.

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