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You didn’t specify beginning or end of period payments.
If you are withdrawing one payment for 15 years starting at the end of the first year, you put this into your calculator:
PMT=60000 FV=0 i=4 n=15 cpt pv=667,103.25
If you are withdrawing at the beginning of each year, you need to change your calculator to begin mode and input the same info to arrive at pv = 693,787.38 |
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