Compound edwards annually from his investment account

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Dr. Rivas plans to retire today and would like an income of $500,000 per year for the next 15 years with the income payments starting 1 year from today. He will be able to earn interest 6% per year compound edwards annually from his investment account. what must be deposited today in his investment account to achieve this income of $500,000 per year.

Reference no: EM131326965

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