To make equal, annual deposits of $1000.00 to an account that pays 7.00% annual interest compounded semiannually. You plan to make a total of 12 deposits. The first deposit will be made today and the final deposit will be made at the end of year 11. At the end of year 11 you will make the first of 12 annual withdrawals of $2000.00. How much money will remain in the account at the end of year 22 when the final withdrawal is made?

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FV = PV(1+i)", FV = pmt 1-1. i PV = pmt [(1 + i)" - (1+i)"i pmt "]. PV = (m FV = PV(1+i)", FV = pmt 1-1. i PV = pmt [(1 + i)" - (1+i)"i pmt "]. PV = (m

Answer rating: 100% (QA)

Effective annual rate 103521 0071225 712 FV of the deposits of 1000 made from 0 to 11 ye... View the full answer