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bronzecat329Lv1
21 Nov 2020
What is the amount of 10 equal annual deposits that can provide five annual withdrawals when the first withdrawal of $3,000 is made at the end of year 11 and subsequent withdrawals increase at the rate of 6% per year over the previous year's withdrawal if
a) The interest rate is 8% compounded annually?
b) The interest rate is 6% compounded annually?
What is the amount of 10 equal annual deposits that can provide five annual withdrawals when the first withdrawal of $3,000 is made at the end of year 11 and subsequent withdrawals increase at the rate of 6% per year over the previous year's withdrawal if
a) The interest rate is 8% compounded annually?
b) The interest rate is 6% compounded annually?
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tealshark869Lv1
2 Jun 2021
