A Challenging Problem

# A Challenging Problem - A Challenging Problem You just sold...

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A Challenging Problem You just sold a company you started eight years ago, when you were 45, for \$5.6 million after taxes. You’ll spend \$100,000 today and invest the rest at 9%. You plan to live until age 88 and die with none of the money left. How much money can you spend annually with withdrawals made on 1

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A Challenging Problem You just sold a company you started eight years ago, at age 45, for \$5.6 million after taxes. You’ll spend \$100,000 today and invest the rest at 9%. You plan to live until age 88 and die with none of the money left. How much money can you spend annually with withdrawals made on the last day of 2
Solving For The Payment (C) You run the credit card division of the bank. You want to structure your client’s minimum payments so that it takes four years to repay a \$1,000 balance. If the interest rate is 1.5% per month , compounded monthly, what is the minimum monthly payment the bank 3

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(C) You run the credit card division of the bank. You want to structure
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## This note was uploaded on 01/24/2012 for the course FIN 4260 taught by Professor Victorwakeling during the Spring '12 term at Kennesaw.

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A Challenging Problem - A Challenging Problem You just sold...

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