Al Vincent has decided to retire to Arizona in 11 years. What amount should Al...
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Al Vincent has decided to retire to Arizona in 11 years. What amount should Al invest today so that he will be able to withdraw $30,000 at the end of each year for 16 years after he retires? Assume he can invest the money at 6% interest compounded annually. (Use the Table 13.2 and Table 12.3.) Note: Do not round intermediate calculations. Round your answer to the nearest cent. Answer is complete but not entirely correct. Present value of an annuity of $1 Present value of $1 at end of period. Note: For more detauled tables, see your reterence booklet, the Business Math Handbook
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