Question
#28 Derek wants to withdraw $14,699.00 from his account 3.00 years from today and $12,897.00 from his account 11.00 years from today. He currently has
#28
Derek wants to withdraw $14,699.00 from his account 3.00 years from today and $12,897.00 from his account 11.00 years from today. He currently has $2,800.00 in the account. How much must he deposit each year for the next 11.0 years? Assume a 5.95% interest rate. His account must equal zero by year 11.0 but may be negative prior to that.
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Financial Management for Public Health and Not for Profit Organizations
Authors: Steven A. Finkler, Thad Calabrese
4th edition
133060411, 132805669, 9780133060416, 978-0132805667
