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10,000 is deposited into an account earning 6% convertible quarterly. After 2.5 years, 500 is...

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Finance

10,000 is deposited into an account earning 6% convertible quarterly. After 2.5 years, 500 is withdrawn every quarter, with the first withdrawal happened immediately, until there are not enough funds to make a 500 withdrawal. What amount would have to be deposited into the account at the end of the fifth year so that a full, final 500 withdrawal could be made which completely depletes the account of all funds?

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10,000 is deposited into an account earning 6% convertible quarterly. After 2.5 years, 500 is withdrawn every quarter, with the first withdrawal happened immediately, until there are not enough funds to make a 500 withdrawal. What amount would have to be deposited into the account at the end of the fifth year so that a full, final 500 withdrawal could be made which completely depletes the account of all funds? 211 B 224 250 D 277 E 299

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