What is the amount of 10 equal annual deposits

Reference no: EM13235574

What is the amount of 10 equal annual deposits that can provide five annual withdrawals, where a first withdrawal of $3,000 is made at the end of year 11 and subsequent withdrawals increase at the rate of 6% per year over the previous year's, if the interest rate is 8% compounded annually and if the interest rate is 6% compounded annually?

Reference no: EM13235574

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