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You plan to deposit 600 at the end of each year for 21 years into a fund that earns an annual effective interest rate of
You plan to deposit 600 at the end of each year for 21 years into a fund that earns an annual effective interest rate of 7.6%. After 21 years, you will withdraw an amount from the fund at the end of each year until the fund balance if zero. You determine that if you withdraw A at the end of each year, the balance will reach zero at the end of 8 years, but if you withdraw B at the end of each year, the balance will reach zero at the end of 15 years. Calculate the value of AB. Answer =
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