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October 30, 2014

Homework Help: Engineering Economics

Posted by Marzi on Tuesday, January 27, 2009 at 10:08pm.

Hi there,
I am having some trouble solving this problem, can you give some guidance as to the solution.

What is the amount of 10 equal annual deposits that can provide five annual withdrawals, when a first withdrawal of $1000 is made at the end of year 11, and subsequent withdrawals increase at the rate of 6% per year over the previous year's, if

(a)The interest rate is 8%, compounded annually?

(b)The interest rate is 6%, compounded annually?

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