Question

Derek currently has $10,761.00 in an account that pays 5.00%. He will withdraw $5,643.00 every other year beginning next year until he has taken 6.00 withdrawals. He will deposit $10761.0 every other year beginning two years from today until he has made 6.0 deposits. How much will be in the account 28.00 years from today?

Answer 1

=(10761-5643/1.05*(1-1/(1.05^2)^6)/(1-1/(1.05^2))+10761/1.05^2*(1-1/(1.05^2)^6)/(1-1/(1.05^2)))*1.06^28
=161881.895