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Mark Mathew is going to withdraw $1,000 at the end of each year for the next three years from his bank account that pays interest
Mark Mathew is going to withdraw $1,000 at the end of each year for the next three years from his bank account that pays interest at a rate of 8% compounded annually. How much must there be in the account today in order for the account to reduce to a balance of zero after the last withdrawal?
$2,775.67
$2,602.29
$2,577.10
$2,713.75
$1,793.83
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