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Chapter 3 - Nonlevel annuities - Geometric

A trust fund has 7000 dollars on January 1, 2020. It pays interest once a year starting on January 1, 2021 at an annual effec

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a) o torfrast fund Jan 2020 = $7000 Effective annual Interest Rate = 54 fund efter lon year when no withdrausts take. place =Principal Interest 10% P with den - drawis 334.808 3348.08 16 7. 404 o co 2 Total withdrowy (10 %P + I) 502212 451.991 3013Saving Account Year opening Balance Deposite Interest Earned Interest Cluring Beloni 0 * N 1050 1050 945 850.5 84 (OB+ I + D)

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