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1 The proceeds from a life insurance policy are left on deposit. with interest credited at the end of each year. The beneficiary makes withdrawals
1 The proceeds from a life insurance policy are left on deposit. with interest credited at the end of each year. The beneficiary makes withdrawals from the fund at the end of each year t. fort - 1,2,..., 10. At the minimum interest rate of 396 guaranteed in the policy, the equal anual withdrawal would be 1.000. However, the insurer credits interest at the rate of 4% for the first four years and 5% for the next six years. The actual amount withdrawn at the end of year t is F W- a=2.03 where F. is the amount of the fund, including interest, prior to the withdrawal. Calculate W10 B F Ty A TIT 1 The proceeds from a life insurance policy are left on deposit. with interest credited at the end of each year. The beneficiary makes withdrawals from the fund at the end of each year t. fort - 1,2,..., 10. At the minimum interest rate of 396 guaranteed in the policy, the equal anual withdrawal would be 1.000. However, the insurer credits interest at the rate of 4% for the first four years and 5% for the next six years. The actual amount withdrawn at the end of year t is F W- a=2.03 where F. is the amount of the fund, including interest, prior to the withdrawal. Calculate W10 B F Ty A TIT
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