A series of monthly cash flows is deposited into an account that earns 12% nominal interest compounded

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A series of monthly cash flows is deposited into an account that earns 12% nominal interest compounded monthly. Each monthly deposit is equal to $2100. The first monthly deposit occurred on June 1, 1998 and the last monthly deposit will be on January 1,2005. The account (the series of monthly deposits, 12% nominal interest, and monthly compounding) also has equivalent quarterly withdrawals from it. The first quarterly withdrawal is equal to $5000 and occurred on October 1,1998. The last $5000withdrawalwill occur on January 1, 2005. How much remains in the account after the last withdrawal?
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Engineering Economic Analysis

ISBN: 9780195168075

9th Edition

Authors: Donald Newnan, Ted Eschanbach, Jerome Lavelle

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