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1. What is the amount of 20 equal semi-annual deposits that can provide ten semi-annual withdrawals, when a first withdrawal of $3,000 is made
1. What is the amount of 20 equal semi-annual deposits that can provide ten semi-annual withdrawals, when a first withdrawal of $3,000 is made at the end of year 15, and subsequent withdrawals increase at the rate of 6% per semiannual over the previous years? if 1. The interest rate is 8%, compounded annually? 2. The interest rate is 6%, compounded annually?
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To solve this problem we can use the formula for the Future Value of an Annuity FV Pmt 1 ...
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Fundamentals of Engineering Economics
Authors: Chan S. Park
3rd edition
132775425, 132775427, 978-0132775427
