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A man invests $ 1 0 0 0 now at 1 6 % monthly. He wants to draw interest at the end of each year

A man invests $1000 now at 16% monthly. He wants to draw interest at the end of each year in perpetuity. If his first withdrawal is in one year, how much can he withdraw?
172.27
13.33
160
12.45

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