How Much Would Howard Steele Need to Invest Today So

question 36

Multiple Choice

How much would Howard Steele need to invest today so that he may withdraw $12,000 each year for the next 20 years, assuming a rate of 8% compounded annually?

• A) $117,817.77
• B) $454,144.00
• C) $112,817.20
• D) $549,144
• E) None of these

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