Maurice Tutor

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Teaching Since: May 2017
Last Sign in: 401 Weeks Ago, 2 Days Ago
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 08 Aug 2017 My Price 3.00

interest rate

1. If $80,000 is invested in a fund on December 31, 2010, what is the amount of each of six annual withdrawals starting on December 31, 2011 that would deplete the fund if the interest rate earned in the fund is 10% compounded annually?

2. If $90,000 is invested in a fund on December 31, 2010 and five equal annual withdrawals of $23,138.32 are made starting on December 31, 2011 that will deplete the fund, what is the interest rate being earned if interest is compounded annually?

 

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Maurice Tutor
(5)
Status NEW Posted 08 Aug 2017 04:08 PM My Price 3.00

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