What amount must be depositd today into an account

Reference no: EM131933012

Question: What amount must be depositd today into an account which offers 10% compounded annually if you wish to make a series of annual withdrawals, starting one year from today, which alternate as follows: $50, $100, $50, $100,...etc., and which terminate with a $50 withdrawal at the end of year 23? That is, the first withdrawal, one year from today, is $50, the second withdrawal, two years from today, is $100, and this pattern repeats ending with a $50 withdrawal at the end of year 23.

Reference no: EM131933012

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