How much must each of the ten uniform deposits be

Reference no: EM132144333

Question: Melinda Gibbs would like for her descendants to be able draw $40,000 every year for ever starting 30 years from now. She has found a mutual fund that will provide her a guaranteed 10% return forever. She will make ten equal deposits starting today. How much must each of the ten uniform deposits be?

Reference no: EM132144333

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