Owen Wisconsin 54460, and the strife you've caused !! (53 replies) Latest news from Owen, WI collected exclusively by city-data.com from local newspapers, TV, and radio stations. Ancestries: German (47.0%), Polish (12.5%), English (6.3%), Irish (5.6%), Norwegian (4.5%), French (2.4%). Current Local Time: CST time zone.
Then the nominal interest rate on the annuity will be eight percent. Our annual spending, C, will increase at a rate of 5 percent per year. That way, every year we will be able to afford the same basket of goods and services that we can afford today for $25,130.
EXPLANATION: Since the interest for 1 year is 0%, the interest for 2 months or 60 days is 1% and the interest for 6 days is 1/10 of that for 60 days, or .1%. Taking the given example, the time is divided as shown. Each 60-day period earns 1% or $5.00 of interest.