Beginning December 31, 2010, ten equal annual withdrawals are to be made.
Required:
Using the appropriate tables, determine the equal annual withdrawals if $140, 000 is invested on January 1, 2010 at an interest rate of 10% compounded annually.

Question

ShaBreka Niameko · Accepted Answer

Final Answer :  P O = C (  Factor for  P O n , i ) P O = C (  Factor for  P O n = 10 , i = 10 % ) P O = C ( 6.144567 ) C = $ 140 , 000 6.144567 C = $ 22 , 784 \begin{array}{ll}P_{O}  &  =C\left(	ext { Factor for } P_{On,i}ight) \P_{O} &  =C(	ext { Factor for } P_{On=10,i=10\%}) \P_{O} &  =C(6.144567)\C & =\frac{\$ 140,000}{6.144567}\C & =\$22,784\end{array} P O ​ P O ​ P O ​ C C ​ = C (  Factor for  P O n , i ​ ) = C (  Factor for  P O n = 10 , i = 10% ​ ) = C ( 6.144567 ) = 6.144567 $140 , 000 ​ = $22 , 784 ​

Beginning December 31, 2010, ten equal annual withdrawals are to be made.
Required:
Using the appropriate tables, determine the equal annual withdrawals if $140, 000 is invested on January 1, 2010 at an interest rate of 10% compounded annually.

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Beginning December 31, 2010, ten equal annual withdrawals are to be made.Required:Using the appropriate tables, determine the equal annual withdrawals if $140, 000 is invested on January 1, 2010 at an interest rate of 10% compounded annually.

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Learning Objectives

Learning Objectives

Related questions

Beginning December 31, 2010, ten equal annual withdrawals are to be made.
Required:
Using the appropriate tables, determine the equal annual withdrawals if $140, 000 is invested on January 1, 2010 at an interest rate of 10% compounded annually.