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Derek wants to withdraw $11,575.00 from his account 3.00 years from today and $13,908.00 from his account 12.00 years from today. He currently has $2,838.00
Derek wants to withdraw $11,575.00 from his account 3.00 years from today and $13,908.00 from his account 12.00 years from today. He currently has $2,838.00 in the account. How much must he deposit each year for the next 12.0 years? Assume a 6.69% interest rate. His account must equal zero by year 12.0 but may be negative prior to that. Currency: Round to: 2 decimal places.
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