Determine the two equal deposits the first deposit required, Ask an Expert

Economics

Determine the two equal deposits, the first deposit required now and the second deposit at the end of year 6, so that you can withdraw $2,000 at the end of each year for the next 12 years. Assume that money earns 4% interest, compounded monthly. The interest is 4% yearly, but compounded monthly.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M9471330

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