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Mohammed has deposited his life savings of BD70,000 in a retirement income plan with a local bank. The bank pays 10% per year, compounded annually
Mohammed has deposited his life savings of BD70,000 in a retirement income plan with a local bank. The bank pays 10% per year, compounded annually on such deposit. What is the maximum amount the Mohammed can withdraw at the end of each year and still have the funds last for 15 years?
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