1. Beginning one year from now, six annual deposits of $2,000 each will be made into an...

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1. Beginning one year from now, six annual deposits of $2,000 each will be made into an account paying 5%. What will be the balance in the account after the 6% deposit?

2. What amount must be deposited at 6% in an account on January 1, 2019 if it is desired to make equal annual withdrawals of $5,000 each beginning on January 1, 2020? The last withdrawal will occur on January 1, 2023.

Posted Date: Nov 09, 2021 08:50 AM

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1. Beginning one year from now, six annual deposits of $2,000 each will be made into an...

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Solution Answer 1 Payment is to be made at end of each year hence we will use future value of ordina... View the full answer

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