Question: ( Growing Series Problem ) ( a ) What amount must be deposited today into an account offering a stated annual rate of 1 0

(Growing Series Problem)(a) What amount must be deposited today into an account offering a stated annual rate of 10.2% compounded semiannually, if, beginning twelve years from today, one wishes to make the following series of seven growing annual withdrawals? End-of-Year Withdrawal 12 $1,000(1.054601)413 $1,000(1.054601)514 $1,000(1.054601)615 $1,000(1.054601)716 $1,000(1.054601)817 $1,000(1.054601)918 $1,000(1.054601)10(b) What would be the deposit amount if the series continued for 50 years to the end of year 61(last withdrawal = $1,000(1.04)53)?(c)What would be the deposit amount if the series continues forever?

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