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Derek wants to withdraw $11,464.00 from his account 7.00 years from today and $12,230.00 from his account 15.00 years from today. He currently has $2,462.00
Derek wants to withdraw $11,464.00 from his account 7.00 years from today and $12,230.00 from his account 15.00 years from today. He currently has $2,462.00 in the account. How much must he deposit each year for the next 15.0 years? Assume a 6.70% interest rate. His account must equal zero by year 15.0 but may be negative prior to that. Submit Answer format: Currency: Round to: 2 decimal places.
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