Question: Show step by step solution ( don't use Excel) You make an initial deposit of $1000 now. Then you make quarterly deposits during the next

Show step by step solution ( don't use Excel) You make

Show step by step solution ( don't use Excel)

You make an initial deposit of $1000 now. Then you make quarterly deposits during the next four years of $X each. If the accounts pays 12 percent compounded monthly, how much should be each quarterly deposit X if you want to withdraw $20, 000 from the account immediately after the last deposit at the end of year 4

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