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Mathematics, 11.02.2020 19:51 vpoon6739
I’m going to put $100,000 into an investment at the beginning of year 1. At the end of year 2, I am going to add $55,000 more to the investment. In year 4, I will start to remove $20,000 per year (on the first day of the year). If the interest rate on the investment is 8.2%/year compounded annually, how long (to the nearest year) before the balance in the investment drops to zero? Work this problem on a spreadsheet using simple and compound interest formulas only.
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I’m going to put $100,000 into an investment at the beginning of year 1. At the end of year 2, I am...
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