26 Jul HOW MUCH REMAINS IN THE ACCOUNT AFTER THE LAST WITHDRAWAL?
A series of monthly cash flows is deposited into an account that earns 12% nominal interest compound Show more A series of monthly cash flows is deposited into an account that earns 12% nominal interest compounded monthly. Each monthly deposit is equal to $2100. The first monthly deposit occurred on July 1 2013 and the last monthly deposit will be on February 1 2020. The account (the series of monthly deposits 12% nominal interest and monthly compounding) also has equivalent quarterly withdrawals from it. The first quarterly withdrawal is equal to $5000 and occurred on November 1 2013. The last $5000 withdrawal will occur on February 1 2020. How much remains in the account after the last withdrawal? Show less
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