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If $ 2 5 , 0 0 0 is deposited now to an account earning an interest of 1 5 % per year,what will be

If $25,000 is deposited now to an account earning an interest of 15% per year,what will be the value of X so that the withdrawal pattern shown below willzero out the account at the end of year 6?End-of-year, 1,2,3,4,5,6Amount (P), X, X(1.08), X(1.08)^2, X(1.08)^3, X(1.08)^4, X(1.08)^5ANS: 5,574.13 show solution

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