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OpenStudy (anonymous):
What must Bill McGuire invest today to receive an annuity of $12,000 for four years semiannually at a 10 percent annual rate? All withdrawals will be made at the end of each period.
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OpenStudy (anonymous):
x*1.1*1.1*1.1*1.1=12000 x=12000/(1.1*1.1*1.1*1.1)
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