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Dylan puts $200,000 in the bank today and starting one year from now will make 8 annual withdrawals of equal amount until the account is
Dylan puts $200,000 in the bank today and starting one year from now will make 8 annual withdrawals of equal amount until the account is empty and closed down.
If the bank pays 6% annual interest rate, how much can Dylan withdraw each year?
Answer to the nearest cent.
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