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malfutka [58]
2 years ago
6

At the end of each of the following five years, Eason is going to withdraw $30,000 from an investment account that pays interest

at a rate of 8% compounded annually. How much must there be in the investment account today in order for his account to reduce to a balance of zero after the last withdrawal? Show all your calculations.
Mathematics
1 answer:
Sophie [7]2 years ago
5 0

Answer:

3,000×0.8.×5

12000+3000 = 15000

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