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Investment Account Assignment | Homework For You

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May 22nd, 2020

Robert expects to make 24 monthly deposits of $360 into an investment account that earns 7.3% compounded quarterly. After a one year investment pause, he intends to take out 20 equal monthly amounts from his investment account, the first withdrawal being exactly one year from the date of his last deposit. Homework For YouWhat is the dollar amount of each withdrawal assuming after the last one he has drained his investment account to zero. Assume the account earns the same rate of interest stated above throughout the investment horizon. Get Finance homework help today

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