Question
Suppose ABC construction company deposits $10,000 into an account that pays 8 percent interest compounded annually. If the company withdraws 10 equal annual amounts from
Suppose ABC construction company deposits $10,000 into an account that pays 8 percent interest compounded annually. If the company withdraws 10 equal annual amounts from the account, with the first withdrawal occurring 1 year after the deposit, how much can the company withdraw each year in order to deplete the fund with the last withdrawal?
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The Commercial Aircraft Finance Handbook
Authors: Ronald Scheinberg
2nd Edition
1138558990, 978-1138558991
