Question

1. A
person plans to make equal annual deposits into
retirement account for 25 yrs in order & then
make 20 equal annual withdrawals of 25,000, 000/=
reducing the balance in the amount to zero. Assume
the account offer a nominal annual rate of
6.5% compounded annually
@ How much must be deposited annually to accum -
ulate sufficient funds to provide for these
paym-
ents.
b) How much total interest is earned during the
entire 45yrs process?​

Answer 1

Answer:

b) How much total interest is earned during the

entire 45yrs process?