Calculate the amount of withdrawl

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A private school has just received a donation for 65000 as wekk as the promise of another 50000 contribution in one year.

The contributions will be invested in an account earning j12=3.6% until needed for the purchase of new equipment.

The money will be withdrawn in two equal amounts. The first withdrawl will be in 3 years and the second will be in 5 years.

Calculate the amount of each withdrawl

Reference no: EM132546434

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