How much should you deposit now in bank account

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Reference no: EM13871233

You are planning to make 18 monthly withdrawals beginning at the end of the sixth month. You plan to withdraw $109 in the sixth month and increase your withdrawals by $12 over the previous month’s withdrawal. How much should you deposit now in a bank account that pays 12% compounded monthly?

Reference no: EM13871233

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How much should you deposit now in bank account : You are planning to make 18 monthly withdrawals beginning at the end of the sixth month. You plan to withdraw $109 in the sixth month and increase your withdrawals by $12 over the previous month’s withdrawal. How much should you deposit now in a bank..

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