Mathematics, 16.07.2020 19:01 mustafakhalil02
Joe Hernandez has inherited $25,000 and wishes to purchase an annuity that will provide him with a steady income over the next 12 years. He has heard that the local bank is currently paying 6% p. A. (compounding annually). If he were to deposit his fund, what is the equal amount would he be able to withdraw at the end of each year for 12 years?
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