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6 . Suppose you accumulated $ 2 5 0 , 0 0 0 , perhaps from many years of saving. You put the money in

6 .

Suppose you accumulated $

250, 000,

perhaps from many years of saving. You put the money in a savings plan earning

3 %

compounded monthly. If you want to live off the interest without disturbing the $

250, 000

balance, what amount can you withdraw at the beginning of each month?

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