A random wizard deposits $2,718.28 in an account earning 1.82% interest compounded 8 times per year....

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A random wizard deposits $2,718.28 in an account earning 1.82% interest compounded 8 times per year. The wizard withdraws $1,000 after 4 ycars and another $1,000 after 5 years. How much can be withdrawn at the end of 9 years to empty the account? (a) (10 points) Draw time diagrams for both the Merchants' Rule and the US Rule approaches to solving this problem. (b) (14 points) Choose one of the two time diagrams you drew and use it to find the answer. A random wizard deposits $2,718.28 in an account earning 1.82% interest compounded 8 times per year. The wizard withdraws $1,000 after 4 ycars and another $1,000 after 5 years. How much can be withdrawn at the end of 9 years to empty the account? (a) (10 points) Draw time diagrams for both the Merchants' Rule and the US Rule approaches to solving this problem. (b) (14 points) Choose one of the two time diagrams you drew and use it to find the answer.

Answer rating: 100% (QA)

a Time Diagrams for Merchants Rule and US Rule Merchants Rule 0 1 2 3 4 5 6 7 8 9 Deposit Withdraw W... View the full answer