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JOTARO started saving $2,000 each year for 25 years until his retirement at 65 years o retired, he withdrew $10,000 for a period of 5 years. In the ninth and tenth years, he c withdrew $5,000 per year. In the twelfth year, he withdraws the remaining money in interest rate was 9% per year: a) Draw the Cash flow diagram with function symbols. b) What was the final withdrawal from his account? SHOW COMPLETE SOLUTIONS

JOTARO started saving $2,000 each year for 25 years until his retirement at 65 years o retired, he withdrew $10,000 for a period of 5 years. In the ninth and tenth years, he c withdrew $5,000 per year. In the twelfth year, he withdraws the remaining money in interest rate was 9% per year: a) Draw the Cash flow diagram with function symbols. b) What was the final withdrawal from his account? SHOW COMPLETE SOLUTIONS

Essentials Of Investments
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
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JOTARO started saving $2,000 each year for 25 years until his retirement at 65 years old. A year after he retired, he withdrew $10,000 for a period of 5 years. In the ninth and tenth years, he decided to only withdrew $5,000 per year. In the twelfth year, he withdraws the remaining money in his account. If the interest rate was 9% per year: a) Draw the Cash flow diagram with function symbols. b) What was the final withdrawal from his account? SHOW COMPLETE SOLUTIONS
Transcribed Image Text:JOTARO started saving $2,000 each year for 25 years until his retirement at 65 years old. A year after he retired, he withdrew $10,000 for a period of 5 years. In the ninth and tenth years, he decided to only withdrew $5,000 per year. In the twelfth year, he withdraws the remaining money in his account. If the interest rate was 9% per year: a) Draw the Cash flow diagram with function symbols. b) What was the final withdrawal from his account? SHOW COMPLETE SOLUTIONS
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