How much could he withdraw at the beginning

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Reference no: EM131963001

1. Your uncle has $1,200,000 and wants to retire. He expects to live for another 25 years, and he also expects to earn 7% on his invested funds. How much could he withdraw at the beginning of each of the next 25 years and end up with zero in the account?

2. What is the present value of $1,700 per year, at a discount rate of 10 percent, if the first payment is received 6 years from now and the last payment is received 21 years from now?

Reference no: EM131963001

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