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. In order to help you through college, your parents deposited $100,000 into a bank account paying 5% annual interest. You plan to withdraw equal
. In order to help you through college, your parents deposited $100,000 into a bank account paying 5% annual interest. You plan to withdraw equal amounts from the
account at the end of each of the next four years. What is the maximum amount you
can withdraw annually ?
A. $23,800
B. $25,000
C. $28,200
D. none of the above; the correct answer is _____
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