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0 1 2 3 1,500.-$ each 4 4 5 W 6 7 8 10,568.-$ 9 years 1,500.-$ each A person deposits 1,500.$'s as above, for 8 years including now. If i=7% per year, how much should he withdraw (W=?) at the end of 5th year so that the accumulated amount at the end of 9th year will be 10,568.-$? Note that there is no money amount at the end of 4th year.

0 1 2 3 1,500.-$ each 4 4 5 W 6 7 8 10,568.-$ 9 years 1,500.-$ each A person deposits 1,500.$'s as above, for 8 years including now. If i=7% per year, how much should he withdraw (W=?) at the end of 5th year so that the accumulated amount at the end of 9th year will be 10,568.-$? Note that there is no money amount at the end of 4th year.

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Exercise.1/Question 0 1 2 3 4 5+ 1,500.-$ each W 4 6 7 8 10,568.-$ 9 years 1,500.-$ each A person deposits 1,500.$'s as above, for 8 years including now. If i=7% per year, how much should he withdraw (W=? ) at the end of 5th year so that the accumulated amount at the end of 9th year will be 10,568.-$ ? Note that there is no money amount at the end of 4th year.
Transcribed Image Text:Exercise.1/Question 0 1 2 3 4 5+ 1,500.-$ each W 4 6 7 8 10,568.-$ 9 years 1,500.-$ each A person deposits 1,500.$'s as above, for 8 years including now. If i=7% per year, how much should he withdraw (W=? ) at the end of 5th year so that the accumulated amount at the end of 9th year will be 10,568.-$ ? Note that there is no money amount at the end of 4th year.
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