Multiple Choice
Marcus Jones wants to invest $10,000 on January 1, 2014, so that he may withdraw 10 annual payments of equal amounts beginning January 1, 2029. If the fund earn 10% annual interest over its life, what will be the amount of each of the withdrawals?
A) $1,470
B) $10,000
C) $14,709
D) none of these
Correct Answer:
Verified
Correct Answer:
Verified
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