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An amount, P, must be invested now to allow withdrawals of $900 per year for the next 14 years and to permit $320 to be

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An amount, P, must be invested now to allow withdrawals of $900 per year for the next 14 years and to permit $320 to be withdrawn starting at the end of year 6 and continuing over the remainder of the 14-year period as the $320 increases by 6% per year thereafter. That is, the withdrawal at EOY seven will be $339.20,$359.55 at EOY eight, and so forth for the remaining years. The interest rate is 12% per year. An amount, P, must be invested now to allow withdrawals of $900 per year for the next 14 years and to permit $320 to be withdrawn starting at the end of year 6 and continuing over the remainder of the 14-year period as the $320 increases by 6% per year thereafter. That is, the withdrawal at EOY seven will be $339.20,$359.55 at EOY eight, and so forth for the remaining years. The interest rate is 12% per year

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