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Determine the equal annual withdrawals

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1. Beginning December 31, 2017, 5 equal withdrawals are to be made. Determine the equal annual withdrawals if $30,000 is invested at 10% interest compounded annually on December 31, 2016.

2. Ten payments of $3,000 are due at annual intervals beginning June 30, 2017. What amount will be accepted in cancellation of this series of payments on June 30, 2016, assuming a discount rate of 14% compounded annually?

3. Ten payments of $2,000 are due at annual intervals beginning December 31, 2016. What amount will be accepted in cancellation of this series of payments on January 1, 2016, assuming a discount rate of 12% compounded annually?

Reference no: EM131696094

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