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A $25,000 is deposited in a bank account paying 7% interest per year and it stays in the account for three years. Starting at the
A $25,000 is deposited in a bank account paying 7% interest per year and it stays in the account for three years. Starting at the end of year four, the money will be withdrawn in five equal year-end installments. How much money should be withdrawn each year in order to have five equal year-end withdrawals? (20 points)
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