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Answer the question. A series of annual withdrawals of $2400 beginning 9 years from now and increasing at the rate of 2% per year through
Answer the question.
A series of annual withdrawals of $2400 beginning 9 years from now and increasing at the rate of 2% per year through year 19 was made. Assume an interest rate of 5% per year. Fill in the blanks below in the compounding factors that can be used to find present worth of the withdrawals at EOY 8. (HINT: skip $, % and comma symbols)
P = $Blank 1 *{1 - (P/F, 5%, Blank 2 )(Blank 3 /P, 2%,11)} / (Blank 4 % - Blank 5 %) Please fill the blank!
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