You want to withdraw a single sum of $8,000 from an account at the end of 12

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You want to withdraw a single sum of $8,000 from an account at the end of 12 years. This withdrawal will deplete the account.

a. What single sum of money must you deposit today if the account earns 5 percent simple interest?

b. What single sum of money must you deposit today if the account earns 5 percent compound interest?

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Principles Of Engineering Economic Analysis

ISBN: 9781118163832

6th Edition

Authors: John A. White, Kenneth E. Case, David B. Pratt

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Question Posted: Mar 26, 2024 01:02 AM

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You want to withdraw a single sum of $8,000 from an account at the end of 12

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Principles Of Engineering Economic Analysis

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