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Draw the cash flow and revised cash flow for this problem. A person has $4000 in a savings account at the beginning of calendar year,
Draw the cash flow and revised cash flow for this problem.
A person has $4000 in a savings account at the beginning of calendar year, the bank pays interest at 6% per year compounded quarterly. What is the balance in the account at the end of the calendar year? Draw the cash flow and revised cash flow for this problem. Table 4-1 Date Effective Date Deposit Withdrawal $ 175 $1200 1500 65 115 Jan. 10 Feb. 20 Apr. 12 May 5 May 13 May 24 June 21 Aug. 10 Sept. 12 Nov. 27 Dec. 17 Dec. 29 Jan. 1 Mar. 31 Apr. 1 June 30 June 30 Apr. 1 Apr. 1 Sept. 30 July 1 Oct. 1 Dec. 31 Oct. 1 50 250 1600 800 350 2300 750Step by Step Solution
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