Question
Beginning June 30, 2010, and continuing every three months until December 31, 2014, Albert deposits $300 into a mutual fund account. Starting September 30, 2015,
Beginning June 30, 2010, and continuing every three months until December 31, 2014, Albert deposits $300 into a mutual fund account. Starting September 30, 2015, he makes quarterly withdrawals of $500. What is the balance in Albert's account after the withdrawal on June 30, 2017, if the mutual fund grows at j4= 8% until March 31, 2013 and j4= 6% afterward?
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Analysis for Financial Management
Authors: Robert c. Higgins
8th edition
73041807, 73041803, 978-0073041803
