Your goal is to be able to withdraw $5,000 for each of the next ten years beginning one year from today. The return on the investment is expected to be 12%. The amount that needs to be invested today is closest to:
A)$44,645.
B)$36,291.
C)$28,251.
D)$50,000.

Question

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The Answer of Your goal is to be able to withdraw $5,000 for each of the next ten years beginning one year from today. The return on the investment is expected to be 12%. The amount that needs to be invested today is closest to:
A)$44,645.
B)$36,291.
C)$28,251.
D)$50,000.

Your Goal Is to Be Able to Withdraw $5,000 for Each