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Kwame Annan retired today with $1,675,000 in his retirement account. Kwame invests this amount in another retirement account that pays 6 percent per year. He
Kwame Annan retired today with $1,675,000 in his retirement account. Kwame invests this amount in another retirement account that pays 6 percent per year. He plans to withdraw a constant amount of money every month from his retirement account and leave the rest (if any) as bequest to his descendants. If Kwame lives for 30 years in retirement, and leaves $1,900,000 as bequest, how much does he withdraw monthly from his retirement account? $11,934 $0 -$2,726 $8,151 $5,782
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