Annuity
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With an annual return of 9%, how much would I need to invest each year for the next 8 years to pay out $16,000 in the 9th year, $17,000 in the 10th year, $18,000 in the 11th year, and $19,000 in the 12th year?
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Solution Summary
Calculates the value of an annuity.
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With an annual return of 9%, how much would I need to invest each year for the next 8 years to pay out $16,000 in the 9th year, $17,000 in the 10th year, $18,000 in the 11th year, and $19,000 in the 12th year?
Note: the abbreviations have the following ...
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