Question

Suppose Justin have deposited $10,000 in your high-yield saving account today. The savings account pays an annual interest rate of 4%, compounded semi-annually. Three years from today Justin will withdraw X dollars. You will continue to make additional withdraws of X dollars every 6 months, until you have a zero balance after your last withdrawal 6 years from now. Find X.

Answer #1

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Question No : 3
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