A person deposits $12,000 per year for 5 years, with the first deposit made one year from

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A person deposits $12,000 per year for 5 years, with the first deposit made one year from the present. One year after the last deposit, the person makes continuous withdrawals of $2,000 for the next 15 years. Find the effective annual IRR being earned on this investment to the nearest percent.
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Engineering Economy

ISBN: 978-0132554909

15th edition

Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

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