If you set yourself a goal of investing X amount today, earning interest at 8%,...

60.1K

Verified Solution

Question

Accounting

image

If you set yourself a goal of investing X amount today, earning interest at 8%, in order to withdraw $10,000 at the end of each year for the next four years, how much is X? Multiple Choice Between $35,000 and $38,000 $33,872 $32,149 O O None of the other alternatives are correct $40,000

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students