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What sums did each have at the end of each year

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Question - Kesa and Tulovo each started with $130,020. They retired, and both withdrew $6,500 of their money at the end of each year and spent it. Kesa experienced a 32 percent decline in his assets in year 2 whereas Tulovo experienced the same decline in year 3. They both had a 7 percent increase per year in their assets in the remaining years. Assuming no tax impact, what sums did each have at the end of each year for each of the four years following retirement?

Reference no: EM133096572

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