Question
An individual, as of today, has a balance of 10,000$in his account. Starting 3 months from today, every 3 months, withdrawals equal to Rwill be
An individual, as of today, has a balance of 10,000$in his account. Starting 3 months from today, every 3 months, withdrawals equal to Rwill be made for 2 consecutive years. 1 month later, withdrawals equal to 2*Rwill be made. The funds interest rate is j2=8%a)If there is no balance left in the account after 2 years, what will the amount of the first withdrawal (R) be?b)If R=200$, after how long will the balance of the account equal to 0?c)If there is no balance left in the account after 10 years and withdrawals are made every 2 years, what will the value of the withdrawals be?d)Starting 10 years ago from today, for 5 consecutive years, the individual has made deposits every 3-months (annuity immediate) which form a geometric progression and the growth rate is 50%. What will be the value of the first deposit if j12=6%?
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