Fishbone Corp wants to withdraw $120,000 (including principal) from an investment fund at the end of the

Fishbone Corp wants to withdraw $120,000 (including principal) from an investment fund at the end of the each year for 9 years. What should be the required initial investment at the beginning of the first year if the fund earns 11%?

 

File name: Fishbone-corp.xls File type: application/vnd.ms-excel Price: $3