(Solved by Humans)-Every 2 years Mrs Taliga deposits $2000 into a fund that pays

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Type of Paper:

Academic Level: Undergrad. (yrs 3-4)

Paper Format: APA

Pages: 5 Words: 1375

Question

Every 2 years Mrs Taliga deposits $2000 into a fund that pays interest at j2 = X% p.a. The first deposit is one her 53rd birthday and the last deposit is on her 65th birthday. Beginning 3 months after her 65th birthday and counting every 3 months thereafter, she withdraws equal amounts of $A, which will exactly exhaust the fund on her 79th birthday. Determine $A.




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