Suppose you plan to retire at age 70, and you want to be able to withdraw...

Question

Question

business finance

Answer 1

Answer #1

rate positively ..


We have to use financial calculator to solve this
put in calculator -

FV		0
PMT		-7000
I	6%/12	0.50%
N	(100-70)*12	360

Compute PV	$1,167,541.30


ans =		$1,167,541

Answer 2

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