Contemporary Engineering Economics 6th Edition by Chan Park

Exercise 44

What is the amount of 10 equal annual deposits that can provide five annual withdrawals A first withdrawal of $15,000 is made at the end of year 11 and subsequent withdrawals increase at the rate of 8% per year over the previous year's withdrawal. Determine the amounts from the following rates.
(a) The interest rate is 9% compounded annually.
(b) The interest rate is 6% compounded annually.