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First you invest $100,000 at 5.1% interest for 5 years. Then one year later you start annual withdrawals for 59 years until it is exhausted.
First you invest $100,000 at 5.1% interest for 5 years. Then one year later you start annual withdrawals for 59 years until it is exhausted. How much can you withdraw per year? Hint: draw a time line diagram
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