Contemporary Engineering Economics 6th Edition by Chan Park

تمرين 55

Henry Cisco is planning to make two deposits: $25,000 now and $30,000 at the end of year 6. He wants to withdraw C at the end of each year for the first six years and ( C + $1,000) each year for the next six years. Determine the value of C if the deposits earn 10% interest compounded annually.
(a) $7,711
(b) $5,794
(c) $6,934
(d) $6,522