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Answer the following questions given the information below about your employment history and your future cash needs ( assuming a 1 0 % discount rate
Answer the following questions given the information below about your employment history and your future cash needs assuming a discount rate throughout:
Today is your th birthday, and starting exactly year after you were born, your grandmother deposited $ into an account on your birthday including today, your th birthday this is the last of those deposits. On your nd birthday, you added $ to the account and have added more on each birthday including your th birthday, this year this is the last of those deposits. In addition, you are going to begin depositing $beginning today your th birthday into this account. You will deposit this constant amount each year beginning today for the next years that is today plus more deposits Exactly years after the last deposit, you want to withdraw a constant amount per year for a total of years that is there will be total withdrawals
If you want a zero balance in your account immediately after the last withdrawal what is the amount of each of the constant amounts being withdrawn?
Use PV and RATE Excel functions to solve this problem
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