1. A
person plans to make equal annual deposits into
a retirement account for 25 yrs in order & then
make 20 equal annual uuthdrawals op 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?
Answers
Answer:
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