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2B Project: Payout Annuities Score: 27.33/43 20/27 answered X Question 4 Next question You can retry this question below > Payouts and Annuities, Part I:
2B Project: Payout Annuities Score: 27.33/43 20/27 answered X Question 4 Next question You can retry this question below > Payouts and Annuities, Part I: Frequency of Withdrawals for Annuities For this part of the project, you will be looking at the difference that the frequency of withdrawals and compounding makes on payouts from annuities. $243584.07 Submit Question Save progress A. For all parts of this problem, money is invested in a retirement account with an APR of 8.04%. (This is close to the average annual return rate for a traditional individual retirement account over the last decade.) You want to be able to withdraw $24,000 per year for 20 years after retirement. Round up to the cent for each answer. X Done 4. How much must you have in the account to start with if compounding and withdrawals are both monthly? 0/1 pt 87
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