Calculate the amount of each of the equal annual deposit

Reference no: EM13182141

Melinda Gibbs would like for her descendants to be able draw $40,000 every year forever starting 30 years from now. She has found an investment that will provide her a guaranteed 10% return forever. To fund the withdrawals, she will make ten equal annual deposits starting today. Using the Annual Cash Flow Analysis method, calculate the amount of each of the equal annual deposit she will make.

Reference no: EM13182141

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