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OpenStudy (anonymous):
Find the present value of the annuity if the withdrawal is to be $600 per month for 21 months at 5% compounded monthly.
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OpenStudy (anonymous):
http://www.frickcpa.com/tvom/TVOM_PV_Annuity.asp Good explanation here. Scroll down to see the examples with compounding.
OpenStudy (anonymous):
I got $10938.54
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