Determine the accumulated value of fund y at the end of


2,250 is deposited into Fund X, which earns an annual effective rate of zero. At the end of each year, 12% of the balance is withdrawn from the fund.

The annual withdrawals are deposited into Fund Y, which earns an annual effective rate of 7%.

Determine the accumulated value of Fund Y at the end of year 10.

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Financial Management: Determine the accumulated value of fund y at the end of
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