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Mathematics, 12.02.2020 03:53 jake7484
An amount of 1000 is paid into a fund that earns an effective rate of 6%; at the end of each year, the interest plus an additional 100 is withdrawn from the fund. At the end of year 10, the fund is depleted. The annual withdrawals of interest and principal are deposited into fund Y, which earns an effective rate of 9%. What is the accumulated value of the Fund Y at the end of year 10?
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An amount of 1000 is paid into a fund that earns an effective rate of 6%; at the end of each year, t...
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