Answered: With a 12% interest rate, approximately…

With a 12% interest rate, approximately how much money you invested today and its future worth in order to withdraw $1000 per year at the end of each year for 10 years?

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter6: Saving And Investing

Section6.1: Why Save?

Problem 6R

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With a 12% interest rate, approximately how much money you invested today and its future worth in order to withdraw $1000 per year at the end of each year for 10 years? 8. A piece of machinery can be bought for P10000 cash or P2000 down and payments of 750 per year for 15 years. What is the annual interest rate for every payment?

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