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OpenStudy (anonymous):
Please help me, How much would Howard Steele need to invest today so that he may withdraw $12,000 each year for the next 20 years, assuming a rate of 8 percent compounded annually? $117,817.20 or $454,144.00 or $112,817.20 or $549,144. I think the answer is $117,817.20. Could someone tell me if I am correct?
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OpenStudy (anonymous):
yes u r right.....
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