You are planning to make 18 monthly withdrawals beginning, Financial Management

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You are planning to make 18 monthly withdrawals beginning

You are planning to make 18 monthly withdrawals beginning at the end of the sixth month. You plan to withdraw $109 in the sixth month and increase your withdrawals by $12 over the previous month’s withdrawal. How much should you deposit now in a bank account that pays 12% compounded monthly?

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Financial Management: You are planning to make 18 monthly withdrawals beginning

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