Derek wants to withdraw $10,019.00 from his account 8.00 years from today and $13,250.00 from his account
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Question:
Derek wants to withdraw $10,019.00 from his account 8.00 years from today and $13,250.00 from his account 15.00 years from today. He currently has $3,307.00 in the account. How much must he deposit each year for the next 15.0 years? Assume a 5.35% interest rate. His account must equal zero by year 15.0 but may be negative prior to that.
Derek currently has $14,639.00 in an account that pays 5.00%. He will withdraw $5,978.00 every other year beginning next year until he has taken 5.00 withdrawals. He will deposit $14639.0 every other year beginning two years from today until he has made 5.0 deposits. How much will be in the account 22.00 years from today?
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