FV = PV*(1+Spending)^T
FV = (6.7M)*(1+0.10)^-10 = $2,583,140.04
Athena F.
asked 03/29/21Frank won $6.7 million in the lottery. He plans to spend 10% of what is left of his winnings each year. How much money will Frank have left after 10 years? (Approximately)
FV = PV*(1+Spending)^T
FV = (6.7M)*(1+0.10)^-10 = $2,583,140.04
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