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Kaneki deposits 4 , 0 0 0 , then withdraws level annual payments starting one year after the deposit was made. Immediately after the 1

Kaneki deposits

4, 000,

then withdraws level annual payments starting one year after the deposit was made. Immediately after the

11

th annual drawing, the investor has

500

left in the account. Calculate the amount of each withdrawal, given that the annual rate of interest is

8 %

.

.

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