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Maria Smith has saved $257000 for her retirement. It is invested in an annuity that pays 12%. Maria wishes to make equal semi-annual withdrawals over

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Maria Smith has saved $257000 for her retirement. It is invested in an annuity that pays 12%. Maria wishes to make equal semi-annual withdrawals over the next 10 years, beginning 6 months from now. How much can she withdraw each period without exhausting her initial investment? $21138. $22406. $40612. $45485

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