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What is the amount of 10 equal annual deposits that can provide five annual withdrawals, when a first withdrawal of $15,000 is made at the end of year 11 and subsequent withdrawals increase at the rate of 8% per year over the previous years withdrawal

a) the interest rate is 9% compounded annually?

b) the interest rate is 6% compounded annually?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91723064

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