Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. 1. sarah deposits $1000 in a savings account; 5 ye

1. Sarah deposits $1000 in a savings account; 5 years after the deposit, half of...

50.1K

Verified Solution

Question

Finance

image

1. Sarah deposits $1000 in a savings account; 5 years after the deposit, half of the account balance is withdrawn. $2000 is then deposited annually for 4 years, with the first deposit occurring 2 years after the withdrawal. The total balance is withdrawn 15 years after the initial deposit, if the account earned interest of 8% compounded annually over the 15 year period, how much was withdrawn at each withdrawal point

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

For the following three terms, explain what they are and their importance to decisions.               (a) Master Production Scheduling...

Operations Management
Q

For one of the following companies (UPS, Microsoft, Coca-Cola, McDonalds, Harley-Davidson, Southwest Airlines, Abbott, Marriott International), what...

General Management
Q

Bacteria or virus tuberculosis syphilis chicken pox staph infection HIV hepatitis nceki Se in Se...

Biology
Q

Question 9 Points 1 Which Constitutional amendment passed in 1964 essentially ended the systematic prohibition...

Biology
Q

45 Two bodies A and B of equal masses area and emissivity cooling under Newton...

Physics
Q

Given Potential difference V 8 0 5 V and current I 2 0 2 A...

Physics
Q

What is x O 4 3 6 08 Question 2 X 12

Geometry
Q

A statistician uses Chebyshev's Theorem to estimate that at least 65 % of a population...

Basic Math
Q

Lagasse Corporations computation of cost of goods sold is: Beginning Inventory $160,000 Add: Cost of...

Accounting
Q

Mr. Meyers wishes to know how many shares are necessary to elect 2 directors out...

Finance
Q

Wilson holds a portfolio that invests equally in three stocks (wA - Wwe - 1/3)....

Finance
Q

Linear programming should not have alternatives available True False

Accounting