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You deposit $96000 into an account which pays 7% compounded monthly. You leave the money in the account for 9 years. At the end of
You deposit $96000 into an account which pays 7% compounded monthly. You leave the money in the account for 9 years. At the end of the 9 years, you plan to immediately start making monthly withdrawals. You want to be able to make a total of 120 monthly withdrawals. What size withdrawals can you make? You can make monthly withdrawls of $ (Round to 2 decimal places.)You decide to save $7900 by making semiannual deposits for 9 years into an account which pays 3% compounded semiannually. Once the payments stop, you plan to leave the money in the account for an additional 4 years. What size deposits do you need to make? The deposits need to be $ every six months. (Round to 2 decimal places.)
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