Further harold wants to have exactly 30000 left in the, Financial Management

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Further harold wants to have exactly 30000 left in the

1. In 2006, Harold deposited $10,000 in an account paying 9% annual interest. Harold wants to make five equal annual withdrawals from the account starting with the first withdrawal in 2018. Further, Harold wants to have exactly $30,000 left in the account in 2025. How large can each of the annual withdrawals be?

2. A pawnshop will lend $4,250 for 45 days at a cost of $35 interest. What is the effective rate of interest?

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