Question
Assume that five months from today you plan to make the first of several quarterly deposits into an account that pays an APR of 5.5%
What is the size your first withdrawal?
If your withdrawals were all the same size rather than shrinking, would your first withdrawal be larger or smaller than your answer in previous question? Assume nothing else changes.
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Fundamentals of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
Concise 6th Edition
324664559, 978-0324664553
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