Dawn and Mildred had the same starting sum of $120,000. Each made withdrawals of $24,000 a year. In years 2, 3, and 4, each had returns of 9% a year. Dawn had a 50% drop in year 1 and a 50% gain in year 5, while Mildred had a 50% gain in year 1 and a 50% drop in year 5.A) Calculate the remaining sum for each woman at the end of year 5.B) Explain why there is such a big difference in the remaining amounts.
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Dawn and Mildred had the same starting sum of $120,000. Each made withdrawals of $24,000 a year. In...
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