7 8 9. 10 EOY 20 21 22 23 24 25 26 27 28 29 30 CF $300 A deposit was made at the EOY 2021, as shown in the CF table above. Five equal withdrawals are to be made, starting at the EOY 26, that will deplete the account. If the interest rate is 6% compounded annually, what is the amount of these future withdrawals? 4-

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 36P
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8.
6.
10
0.
EOY
3.
20
21
22
23
24
26
27
28
29
30
CF
$300
?
A deposit was made at the EOY 2021, as shown in the CF table above. Five equal withdrawals are to be made, starting at the EOY 26, that will
deplete the account. If the interest rate is 6% compounded annually, what is the amount of these future withdrawals?
25
Transcribed Image Text:8. 6. 10 0. EOY 3. 20 21 22 23 24 26 27 28 29 30 CF $300 ? A deposit was made at the EOY 2021, as shown in the CF table above. Five equal withdrawals are to be made, starting at the EOY 26, that will deplete the account. If the interest rate is 6% compounded annually, what is the amount of these future withdrawals? 25
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