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If Mr. Liles invests $750.05 every month at the end of each month at 10 percent, he will have accumulated $810,873.86 at age 65. This will allow him to withdraw $3,000 a month for 20 years after retirement. 9-16 Bond Price = $100 x PVAIF10,8% + $1,000 x PVIF10,8% = $100 x 6.710 + $1,000 x 0.463 = $1,134 or by financial calculator, $1134.20. ................
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