Answer to Question #246303 in Economics for Sera

Question #246303

How much money must you invest today in order to withdraw 1, 000 pesos per year for 10 years if interest rate is 12%?

Expert's answer

"X*1.12^{10}=1000*\\frac{1-1,12^{10}}{1-1.12}"

"X=5 650.22" need to invest

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