Question
A deposit of X is made at the end of the year for ten years in order to accumulate a fund which will make payments
A deposit of X is made at the end of the year for ten years in order to accumulate a fund which will make payments of 100 at end of year forever, where the payments will start at the end of year 11. Find x if the effective interest rate is 6%. Show all work and equations.
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Intermediate Accounting
Authors: kieso, weygandt and warfield.
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