SOLUTION: An inheritance of �400000 will provide how much at the end of each year for the next 20 years , if money is worth 7% compounded annually

Question 1073455: An inheritance of �400000 will provide how much at the end of each year for the next 20 years , if money is worth 7% compounded annually
Found 2 solutions by addingup, MathTherapy:
Answer by addingup(3677) (Show Source): You can put this solution on YOUR website!
"will provide how much at the end of each year":
If you take out the earnings at the end of each year there is no compounding, you begin every new year with the same 400000.
So every year you get 400000*0.07
Answer by MathTherapy(10552) (Show Source): You can put this solution on YOUR website!
An inheritance of �400000 will provide how much at the end of each year for the next 20 years , if money is worth 7% compounded annually

Correct answer:
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