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4) (8 marks) a) (4 marks) Winston deposits $A in an account today. He plans to withdraw $200 at the beginning of every year for
4) (8 marks) a) (4 marks) Winston deposits $A in an account today. He plans to withdraw $200 at the beginning of every year for 15 years, first withdrawal today. The account eamns j2 = 6% for the first 8 years and j2 = 4% thereafter. What is the value of A? b) (4 marks) Deposits of $300 are made at the end of each month for five years into an account that earns interest at j2 = 5%. The account credits simple interest for fractional periods. What is the accumulated value of this account just after the 60th monthly deposit is made? 4) (8 marks) a) (4 marks) Winston deposits $A in an account today. He plans to withdraw $200 at the beginning of every year for 15 years, first withdrawal today. The account eamns j2 = 6% for the first 8 years and j2 = 4% thereafter. What is the value of A? b) (4 marks) Deposits of $300 are made at the end of each month for five years into an account that earns interest at j2 = 5%. The account credits simple interest for fractional periods. What is the accumulated value of this account just after the 60th monthly deposit is made
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