Derek currently has $12,962.00 in an account that pays 5.00%. He will withdraw $5,837.00 every other year beginning next year until he has taken 8.00 withdrawals. He will deposit $12962.0 every other year beginning two years from today until he has made 8.0 deposits. How much will be in the account 29.00 years from today?

Derek currently has $12,962.00 in an account that pays 5.00%. He will withdraw $5,837.00 every other year beginning next year until he has taken 8.00 withdrawals. He will deposit $12962.0 every other year beginning two years from today until he has made 8.0 deposits. How much will be in the account 29.00 years from today?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 24P

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