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Find the value of the fund-erika

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Reference no: EM132481383

Erika deposited $200 monthly in a fund earning j12 = 12%. The first deposit was made on June 1, 1990 and the last deposit on November 1, 2000.

(a) Find the value of the fund on i) September 1, 1995 (after the payment is made); ii) December 1, 2002.

(b) From May 1, 2005, she plans to draw down the fund with monthly withdrawals of $1,000. Find the date and the size of the smaller concluding withdrawal one month after the last $1,000 withdrawal.

Reference no: EM132481383

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