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Andrew deposits X per year continuously for five years. The savings account credits interest at an annual effective interest rate of i. Starting six months
Andrew deposits X per year continuously for five years. The savings account credits interest at an annual effective interest rate of i. Starting six months after the five year deposit period ends, Andrew makes 10 semi-annual withdrawals of 1000. Immediately following the 10th withdrawal, the account has a balance of zero. Show that X=
Please do this by hand not using excel because I am unable to use excel on exams and need to understand how to do this by hand. Thanks!
20008 X= X . i(2) 20008 X= X . i(2)Step by Step Solution
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