In august 2000 an account that pays 6 interest was opened


In August 2000, an account that pays 6% interest was opened with a deposit of $12,000. There was and will be no withdrawals or additional deposits until August 2010, when the first of four equal annual withdrawals are made. In order for the account to be completely emptied, how much should be withdrawn each year? Include a cashflow diagram in your solution.

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Business Economics: In august 2000 an account that pays 6 interest was opened
Reference No:- TGS01472424

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