What is the amount of ten equal annual deposits

Reference no: EM13207840

What is the amount of 10 equal annual deposits that can provide five annual withdrawals, when 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 years rate if.

a). the interest rate is 8% compounded annually?
b). the interest rate is 6% compounded annually?

Reference no: EM13207840

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