Solution-Withdraw annually in equal beginning of year

Withdraw annually in equal beginning of year

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Ahmed plan on depositing $10,000 at the end of each year for 30 years into a bank account that pays 5% interest. How much could he withdraw annually in equal beginning of year amounts starting at the time he makes his last deposit and continuing for a total of 20 years, assuming balances continue to earn 5% until withdrawn?

Reference no: EM131468678

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Withdraw annually in equal beginning of year

Reference no: EM131468678

Reference no: EM131468678

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