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What is the size of the last withdrawal

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Question - Withdrawals increasing at a constant rate of 5.7% are made quarterly for seven years from an account earning 3.5% compounded quarterly.

(a) What must be the balance in the account to permit the withdrawals if the first withdrawal is $1000??

(b) What is the size of the last withdrawal?

(c) What is the total amount withdrawn?

(d) How much interest is included in the withdrawals?

Reference no: EM133025132

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