Suppose you have deposited $5,000 in your high-yield saving account today. The savings account pays an annual
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Question:
Suppose you have deposited $5,000 in your high-yield saving account today. The savings account pays an annual interest rate of 5%, compounded semi-annually. Two years from today you will withdraw X dollars. You will continue to make additional withdraws of X dollars every 6 months, until you have a zero balance after your last withdrawal 5 years from now.
Find X.
Related Book For
Complex Variables and Applications
ISBN: 978-0073051949
8th edition
Authors: James Brown, Ruel Churchill
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