Derek wants to withdraw $11,540

Finance Sep 16, 2020

Derek wants to withdraw $11,540.00 from his account 4.00 years from today and $13,393.00 from his account 12.00 years from today. He currently has $3,977.00 in the account. How much must he deposit each year for the next 12.0 years? Assume a 5.40% interest rate. His account must equal zero by year 12.0 but may be negative prior to that.

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