You want to withdraw a single sum of $8,000 from an account at the end of 12
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You want to withdraw a single sum of $8,000 from an account at the end of 12 years. This withdrawal will deplete the account.
a. What single sum of money must you deposit today if the account earns 5 percent simple interest?
b. What single sum of money must you deposit today if the account earns 5 percent compound interest?
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Related Book For
Principles Of Engineering Economic Analysis
ISBN: 9781118163832
6th Edition
Authors: John A. White, Kenneth E. Case, David B. Pratt
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