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How much did Katie have accumulated in six years

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Question - Katie wants to deposit $530 at the end of each month into an investment account. At the end of 6 years she wants to stop depositing and start withdrawing an equal amount at the end of each month for the next 4 years. The investment earns 5.0% compounded monthly.

Required -

a. How much did Katie have accumulated in six years?

b. How much can Katie withdraw at the end of each month for four years?

Reference no: EM133025602

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