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Bing has $19000 in his savings account today. He earns interest at 4% p.a. effective. He plans to make the following withdrawals from his account
Bing has $19000 in his savings account today. He earns interest at 4% p.a. effective. He plans to make the following withdrawals from his account $6300 in 5 years and $9900 in 11 years. He will still have $X left in his bank account right after the last withdrawal. Which one(s) of the following equations can be used to find $X? (There may be more than one correct answer. You will lose mark by picking a wrong answer. The minimum mark for the question is zero.) Select one or more: a. X = 19000 *(1 + 0.04)11 - 6300 + (1 + 0.04)5 9900(1 + 0.04)11 b. X = 19000 6300 *(1 + 0.04)6 9900 C. X = 19000 + (1+0.04)11 6300 *(1 + 0.04)6 9900 d. None of the equations can be used to find $X. e. X = 19000 - 6300 + (1 + 0.04)5 - 9900 * (1 + 0.04)11 f. 19000 = 6300 *(1 + 0.04)-5 + 9900 *(1 + 0.04)-11 + X*(1 +0.04)-11
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