1) A company deposits $5000 in a bank at the end of every year for 20 years. The company withdraws $2000 at the end of every year during the subsequent 10 years. If the bank pays 3% interest, how much would be in the account at the end of 30 years?
1) A company deposits $5000 in a bank at the end of every year for 20 years. The company withdraws $2000 at the end of every year during the subsequent 10 years. If the bank pays 3% interest, how much would be in the account at the end of 30 years?
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 25P
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