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Author Question: As a result of compounding, the effective annual rate on a bank deposit (or loan)may be lessthan the ... (Read 8 times)

llesku

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on: Aug 7, 2023

Question 1

Your uncle has $600,000 invested at 7.6%, and he now wants to retire. He wants to withdraw $58,000 at the beginning of each year, beginning immediately. How many years will it take to exhaust his funds; that is, run the account down to zero?

◦

15.38


◦

16.58


◦

17.04


◦

17.91



Question 2

As a result of compounding, the effective annual rate on a bank deposit (or loan)may be lessthan the nominal rate on the deposit (or loan).

◦ true
◦ false
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Marked as best answer by llesku on Aug 7, 2023

ahardin89

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Reply #1 on: Aug 7, 2023
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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llesku

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Reply 2 on: Aug 7, 2023
Thanks for the timely response, appreciate it

6ana001

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Reply 3 on: Yesterday
Wow, this really help

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