An Investment Guarantees to Return a Minimum of 9% Compounded

question 45

Short Answer

An investment guarantees to return a minimum of 9% compounded annually for 11 years. What is the total present value of 11 annual withdrawals of $3,000 each? Use Tables 23-2A and 23-2B or a calculator.​

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Definitions:

Hearing Impairment

A partial or total inability to hear sounds in one or both ears.

Down Syndrome

A genetic disorder caused by the presence of all or part of a third copy of chromosome 21, characterized by physical growth delays, characteristic facial features, and mild to moderate intellectual disability.

Homologous Chromosomes

Pairs of chromosomes in a diploid organism that are similar in shape, size, and genetic content, one inherited from each parent.