Mr. Smith saved $10,000 each year for 10 years. Two years after the saving period ended, he withdrew $5,000 each year fo
Posted: Wed Mar 09, 2022 8:26 am
Mr. Smith saved $10,000 each year for 10 years. Two
years after the saving period ended, he withdrew $5,000
each year for a period of 3 years. In the next two
years, he withdrew $2,000 per year. If the interest rate
is 10% per year, what is the amount remaining in the account after
the last withdrawal?
Note: Use Single Payment Factors and Uniform Payment
Series Factors.
years after the saving period ended, he withdrew $5,000
each year for a period of 3 years. In the next two
years, he withdrew $2,000 per year. If the interest rate
is 10% per year, what is the amount remaining in the account after
the last withdrawal?
Note: Use Single Payment Factors and Uniform Payment
Series Factors.