Solved: Your account pays you 1145 percent per year compounded, Business Economics

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Your account pays you 1145 percent per year compounded

You have accumulated some money for your retirement. You were going to draw $99,259 every year at the end of the year for the next 19 years. How much money have you accumulated for your retirement? Your account pays you 11.45 percent per year, compounded annually. To answer this question, you have to find the present value of these cash flows.

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Business Economics: Your account pays you 1145 percent per year compounded

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