Question
Derek wants to withdraw $14,002.00 from his account 4.00 years from today and $13,467.00 from his account 10.00 years from today. He currently has $3,421.00
Derek wants to withdraw $14,002.00 from his account 4.00 years from today and $13,467.00 from his account 10.00 years from today. He currently has $3,421.00 in the account. How much must he deposit each year for the next 10.0 years? Assume a 5.10% interest rate. His account must equal zero by year 10.0 but may be negative prior to that.
Answer format: Currency: Round to: 2 decimal places.
Derek currently has $13,029.00 in an account that pays 4.00%. He will withdraw $5,072.00 every other year beginning next year until he has taken 6.00 withdrawals. He will deposit $13029.0 every other year beginning two years from today until he has made 6.0 deposits. How much will be in the account 24.00 years from today?
Answer format: Currency: Round to: 2 decimal places.
Assume the real rate of interest is 4.00% and the inflation rate is 3.00%. What is the value today of receiving 11,104.00 in 15.00 years?
Answer format: Currency: Round to: 2 decimal places.
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