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How Much Would Howard Steele Need to Invest Today So

Question 102

Multiple Choice

How much would Howard Steele need to invest today so that he may withdraw $12,000 each year for the next 20 years, assuming a rate of 8% compounded annually? (Use the tables in the handbook.)


A) $117,817.20
B) $454,144.00
C) $112,817.20
D) $549,144
E) None of these

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