Smaller concluding withdrawal at the end of the next year

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Reference no: EM131354059

You just received a $18000 bonus check! You deposit it in an account which earns 9.25% compounded annually.

a. How many full withdrawals of $4500 at the end of each year can be made?

full withdrawals

b. What is the amount of the smaller concluding withdrawal at the end of the next year?

Reference no: EM131354059

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Smaller concluding withdrawal at the end of the next year : You just received a $18000 bonus check! You deposit it in an account which earns 9.25% compounded annually. How many full withdrawals of $4500 at the end of each year can be made? What is the amount of the smaller concluding withdrawal at the end of ..

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