Suppose $15000 is deposited into an account that earns 0.05 per year for 5 years. At that
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Suppose $15000 is deposited into an account that earns 0.05 per year for 5 years. At that point in time lend of year 5), uniform end of-year withdrawals are made such that the account is emptied after the 13th withdrawal. The size of the annual withdrawals would be closest to what value (report to dollars)?
Related Book For
Discovering Advanced Algebra An Investigative Approach
ISBN: 978-1559539845
1st edition
Authors: Jerald Murdock, Ellen Kamischke, Eric Kamischke
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