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
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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
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
