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A retirement account has a balance today of $X and an APR of 10%. You will make semiannual deposits of $3,000 for the next 30
A retirement account has a balance today of $X and an APR of 10%. You will make semiannual deposits of $3,000 for the next 30 years, with the first deposit occurring exactly six months from today. Exactly six months after the final deposit, you will begin making semiannual withdrawals of $75,000 for 20 years (for a total of 40 withdrawals). Immediately after you make the 40th withdrawal, the balance of the account will be $800,000. Calculate X. $17,802.33 $16,203.22 $18,192.27 $19,621.44 $15,054.11
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