Question
Saul is doing some financial planning. Saul deposited $133638 into an account paying 9% compounded annually. At the end of year 5, Saul deposited
Saul is doing some financial planning. Saul deposited $133638 into an account paying 9% compounded annually. At the end of year 5, Saul deposited an additional $34922 into the account. Saul made a withdrawal of $26639 at the end of year 4. Saul would like to have $117022 in the account at the end of year 10. Saul would like to withdraw some money at the end of year 8. How much can Saul withdraw from the account and still have $117022 at the end of year 10?
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Fundamentals of Advanced Accounting
Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik
6th edition
0-07-786223-6, 101259095592, 13: 978-0-07-7, 13978125909559, 978-0077862237
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