Question
#2 Derek wants to withdraw $14,938.00 from his account 8.00 years from today and $13,887.00 from his account 14.00 years from today. He currently has
#2 Derek wants to withdraw $14,938.00 from his account 8.00 years from today and $13,887.00 from his account 14.00 years from today. He currently has $3,773.00 in the account. How much must he deposit each year for the next 14.0 years? Assume a 5.34% interest rate. His account must equal zero by year 14.0 but may be negative prior to that.
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International Financial Reporting Standards An Introduction
Authors: Belverd E. Needles, Marian Powers
3rd Edition
1133187943, 978-1133187943
