Question
On January 1, a woman deposited $5,000 into a credit union that pays 8% compounded quarterly annual interest. He wants to withdraw all the money
On January 1, a woman deposited $5,000 into a credit union that pays 8% compounded quarterly annual interest. He wants to withdraw all the money in five equal amounts annually, starting on December 31 of the first year. How much should it draw each year?
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Engineering Economic Analysis
Authors: Donald Newnan, Ted Eschanbach, Jerome Lavelle
9th Edition
978-0195168075, 9780195168075
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