About fund and interest, Amy Monroe wants to create a fund

About fund and interest

Assignment Help Cost Accounting

Reference no: EM13905233

Amy Monroe wants to create a fund today that will enable her to withdraw $27,260 per year for 7 years, with the first withdrawal to take place 5 years from today. If the fund earns 9% interest, how much must Amy invest today? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.)

Reference no: EM13905233

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About fund and interest : Amy Monroe wants to create a fund today that will enable her to withdraw $27,260 per year for 7 years, with the first withdrawal to take place 5 years from today. If the fund earns 9% interest, how much must Amy invest today?

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