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| rev | Admin | (Created page with "'''Solution: C''' Since the annual effective discount rate is <math>3.2 \%</math>, the present value of an amount is calculated by multiplying it by a discounting factor of <math>(1-0.032)^t=(0.968)^t</math>, where <math>t</math> is the number of years since the deposit. At time <math>t=0</math>, an initial deposit of 50,000 is made just after the balance is 0 (the account is new just before the deposit). The withdrawals are then <math>X</math> at each of times <math>t...") | Nov 18'23 at 21:33 | +1,079 |