Problemyou will deposit 2000 today it will grow for six, Ask an Expert

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Problem:

You will deposit $2,000 today. It will grow for six years at 10% interest compounded semi-annually. You will then withdraw the funds annually over the next four years at the end of each year. The annual interest rate is 8%. Your annual withdrawal will be approximately ______.

$2,340

$4,332

$797

$1,085

Note: Explain all steps comprehensively.

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Basic Finance, Finance

Category:- Basic Finance
Reference No.:- M91147810

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