Interest rate problem, How much would you have to invest to

Interest rate problem

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Reference no: EM13883479

How much would you have to invest to receive 5000 each year for the next 10 years assuming a 5% interest rate. Hi guys. Please use PV=FV/(1+i)^n formula in your explanation. I don't understand how to include the "each year for the next 10 years" part. do you just do 5000 times 10 and then put it in the formula?

Reference no: EM13883479

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Interest rate problem : How much would you have to invest to receive 5000 each year for the next 10 years assuming a 5% interest rate. Hi guys. Please use PV=FV/(1+i)^n formula in your explanation. I don't understand how to include the "each year for the next 10 years" part..

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