On January 1, 2020, Tasya opened a savings account of IDR 1,000,000. After that date every month for 10 years he saved IDR 200,000 starting on February 1, 2020. Then for 5 years starting on February 1, 2026, every month he made withdrawals of IDR 300,000. If the applicable interest is J12=12% and the last withdrawal was made on January 1, 2031, how much will Tasya's savings balance be at the end of 2031?

On January 1, 2020, Tasya opened a savings account of IDR 1,000,000. After that date every month for 10 years he saved IDR 200,000 starting on February 1, 2020. Then for 5 years starting on February 1, 2026, every month he made withdrawals of IDR 300,000. If the applicable interest is J12=12% and the last withdrawal was made on January 1, 2031, how much will Tasya's savings balance be at the end of 2031?

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications

Section: Chapter Questions

Problem 12E

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