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What should be required initial investment at the beginning

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Reference no: EM132483862

Bonita Corporation wants to withdraw $116,500 (including principal) from an investment fund at the end of each year for 9 years.

Question 1: What should be the required initial investment at the beginning of the first year if the fund earns 11%? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

Reference no: EM132483862

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