In: Finance
Suppose an individual makes an initial investment of $1,800 in
an account that earns 6.6%, compounded monthly, and makes
additional contributions of $100 at the end of each month for a
period of 12 years. After these 12 years, this individual wants to
make withdrawals at the end of each month for the next 5 years (so
that the account balance will be reduced to $0). (Round your
answers to the nearest cent.)
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