You are going to withdraw 1000 at the end of each month for, Ask an Expert

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You are going to withdraw $1000 at the end of each month for the next five years from a bank account that pays interest at a rate of 6% (APR) compounded monthly. How much must there be in the account today in order for the account to reduce to a balance of $1000 after the last withdrawl?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91944332

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