Chapter 6 Equivalent Annual Worth - Oxford University Press - Your bank account increases and decreases as deposits and withdrawals are made

Twenty five thousand dollars is deposited in a bank trust account that pays 9% interest, compounded semiannually. Equal annual withdrawals are to be made from the account, beginning one year from now and continuing forever. Calculate the maximum amount of the equal annual withdrawal. Solution i =9/2 = 4½% ................
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