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Caleb plans to save $51,300 per year for 5 years. His first savings contribution is expected in 1 year. He then plans to make withdrawals
Caleb plans to save $51,300 per year for 5 years. His first savings contribution is expected in 1 year. He then plans to make withdrawals for 4 years. How much can Caleb expect to withdraw each year if he expects to earn 16.89 percent, he makes equal annual withdrawals, and his first withdrawal is in 5 years?
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