On the first day of the year, a man deposits S1000 in a bank at 8% per year, compounded annually. He s $80.00 at the end of the first year, $90.00 at the end of the second year, and the remaining at the end of the third yer. (a) How much does he withdraw at the end of the third year? (b) is his net cash flow? (c) How much better off, in terms of net cash flow, would he have been if he had not years one and two? Ans. (a) $1069.19; (b) $239.19, (c) $20.51 1.31 withdraw made the withdrawals at the ends of years one and two? Ans. (a) $1069.19