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$1,000 is deposited in a bank that pays an interest rate of 12% per year. compounded monthly. In the first year, four quarterly withdrawals are
$1,000 is deposited in a bank that pays an interest rate of 12% per year. compounded monthly. In the first year, four quarterly withdrawals are made, the first of them at the end of the third month. In the second year three withdrawals are made quarterly; the first is made at the end of month 16. Determine the amount of each of all seven retreats, if both the four quarterly retreats and the three quarterly retreats have the same value and with the last withdrawal the deposit is extinguished.
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