Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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 A person plans to make equal monthly deposits into this account for 20 years at the rate of 6% monthly and then make 20 equal semiannual withdrawals of $20,000, reducing the balance in the account to zero. How much must be deposited monthly to accumulate sufficient funds to provide for these payments? How much total interest is earned during this entire process?

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