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(2 points) (Exercise 5.32) A has money invested at effective rate i. At the end of the first year A withdraws 152% of the interest
(2 points) (Exercise 5.32) A has money invested at effective rate i. At the end of the first year A withdraws 152% of the interest earned, at the end of the second year A withdraws 304% of the interest earned, and so forth with the withdrawal factor increasing in arithmetic progression. At the end of 14 years the fund is exactly exhausted. Find i. i = %
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