If you wanted to withdraw $12,000 from a bank account at the end of each of the next 20 years, approximately how much would you have to invest in the account today assuming a 6% interest rate?

Present value of annuity P = $137,639.05 (Approx)

Explanation:

Given:

Amount withdraw A = $12,000

Number of year n = 20

Rate r = 6%

Find:

Present value of annuity P

Computation:

P = A[1-(1+r)⁻ⁿ]/r

P = 12,000[1-(1.06)⁻²⁰]/0.06

P = 12,000 x 11.46992122

P = 137,639.05 (Approx)

Present value of annuity P = $137,639.05 (Approx)

hi : ) i found this so i hope this !

"we first find value of tax in dollars.

the difference between the two prices   is: 23. 54 - 22 = 1.54

therefore the sales tax in dollars is 1.54

the tax % will be   (amount of tax / original cost price ) × 100

(1.54 / 22) × 100  → (0.07) × 100 =   7

so the tax rate is 7%

we can double check the answer.

7 % of 22   → (7/100) × 22 → 0.07 × 22 = 1.54

22 + 1.54 = 23.54"

answer; consideration;