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Beth has just received an inheritance of $500,000 and would like to be able to make monthly withdrawals over the next 20 years. She decides

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Beth has just received an inheritance of $500,000 and would like to be able to make monthly withdrawals over the next 20 years. She decides on an annuity that pays 6.3%, compounded monthly. How much will her monthly payments be in order to draw the account down to zero at the end of 20 years? Monthly Payments =

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