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Home Q & A Board Science-Related Homework Help Mathematics
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Lada Lada
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6 years ago
What is the principal invested at 6.5% compounded semi-annually from which monthly withdrawals of $840.00 can be made at the beginning of each month for 15.5 years but deferred for 2 years?
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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#1
6 years ago
p =   - 1 = 0.00534474
PVg (due) = 840 (1.00534474)
   = 840(117.6803282)(1.00534474) = $99 379.81
PV = 99379.81(1.00534474)-24 = 99380.12(0.879913049) = $87 445.59
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