Question
1) Suppose you deposit $8,000 per year for ten years, then deposit $15,000 per year for the next ten (starting one year after your last
1) Suppose you deposit $8,000 per year for ten years, then deposit $15,000 per year for the next ten (starting one year after your last $8,000 deposit). If the investment pays 6% interest compounded annually, what is the balance in your account immediately after your last $15,000 deposit?
- Answer in excel with the process in excel
2) Suppose you deposit $12,000 per year for 12 years and then WITHDRAW $10,000 per year for 10 years starting one year after your last deposit. What will be the balance in your account immediately after your last withdrawal if the account pays 5% interest per year?
-Answer in excel with the process in excel
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