Asked by Lindsey
What amount must be set aside now to generate payments of $30,000 at the beginning of each year for the next 13 years if money is worth 5.93%, compounded annually? (Round your answer to the nearest cent.)
Answers
Answered by
Reiny
PV = 30,000 + 30,000( 1 - 1.0593^-12)/.0593
= ....
= ....
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