Suppose an initial deposit of D dollars into a savings account yields a fixed percentage r per year.

The following withdrawal scheme is used:

After the first year the account holder withdraws W dollars out of the account. Following the second year, the account holder withdraws V dollars out of the account. The account holder continues to withdraw W or V dollars each year in an alternating fashion. (Refer to your notes for the partial sum of a geometric series)

Find an equation that shows the value of the account after N years. (Assume N is odd. This will affect indexing. This assumption will simplify your answer. )

Here, record the part of your expression that involves the term D _______________

Here, record the part of your expression that involves the term W ._______________

Here, record the part of your expression that involves the term V._________________

Answer rating: 100% (QA)

Initial Deposit D0 D Interest rater Interest accrued Dr Totalamount accrued ... View the full answer