Quarterly deposits of $1,000 are made at t = 1, 2, 3, 4, 5, 6, and 7. Then, with drawals of size A are made at t = 12, 13, 14, and 15. If the fund pays interest at a quarterly compounding rate of 4%,...


Quarterly deposits of $1,000 are made at t = 1, 2, 3, 4, 5, 6, and 7. Then, with drawals of size A are made at t = 12, 13, 14, and 15. If the fund pays interest at a quarterly compounding rate of 4%, what value of A will deplete the fund with the fourth withdrawal?



Jun 01, 2022
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