Question
Jan deposits $X now into an account in order to withdraw $20,000 at the end of each year for the next 20 years. The annual
Jan deposits $X now into an account in order to withdraw $20,000 at the end of each year for the next 20 years. The annual effective interest rate is 5.4% for the first 15 years and 3.7% for the last 5 years.
Determine X.
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Finance Of International Trade
Authors: Eric Bishop
1st Edition
0750659084, 978-0750659086
