Question
A woman plans to make a total of eight equal deposits, with the first deposit one year from now and succeeding deposits at 2-year intervals,
A woman plans to make a total of eight equal deposits, with the first deposit one year from now and succeeding deposits at 2-year intervals, so that she will be able to withdraw $12500 per year for 10 years starting 22 years from now. How much must be the equal deposits if the interest rate is a nominal 12% per year compounded monthly?
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New Perspectives In Accounting Ethics
Authors: Emerald Group Publishing Limited
23rd Edition
1785608673, 9781785608674
