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Mention the appropriate calculator BA II Plus keys (where required). III. Your grandmother left you $100,000 in a trust fund that pays 8.5% interest. You
Mention the appropriate calculator BA II Plus keys (where required).
III. Your grandmother left you $100,000 in a trust fund that pays 8.5% interest. You must spend the money on your college education, and you must withdraw the money in 3 equal installments, beginning immediately. How much could you withdraw at the beginning of each year and end up with zero in the account? (First make a time-line indicating inflows and outflows and then calculate for the asked output). III. Your grandmother left you $100,000 in a trust fund that pays 8.5% interest. You must spend the money on your college education, and you must withdraw the money in 3 equal installments, beginning immediately. How much could you withdraw at the beginning of each year and end up with zero in the account? (First make a time-line indicating inflows and outflows and then calculate for the asked output)Step by Step Solution
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