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Brrunno [24]
2 years ago
7

You wish to have $200,000 at the end of twenty years. In the last five years, you withdraw $1,000 annually at a rate of 3.8% com

pounded quarterly. During the middle ten years, you contribute $500 monthly at a rate of 2.8% compounded semi-annually. Given this information, determine the initial deposit that has to be made at the start of the first five years at a rate of 4% compounded monthly
Mathematics
1 answer:
LuckyWell [14K]2 years ago
3 0

Answer:

$9,056.50

Step-by-step explanation:

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