Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Person A and B each make deposits of $150O
at the beginning of each year for 40 years.
Starting at the end of the 41st year, Person
A makes withdrawals of $X for 15 years and
Person B makes withdrawals of $Y for 15
years.
Both funds have $0 after the last
withdrawal. Person A earned money at
annual rate i= 8% and Person B earned
money at annual rate i= 10%.Find Y-X.
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