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Month end contributions of $441 are made to an account for nine years. For exactly six years following the date of the final payment
Month end contributions of $441 are made to an account for nine years. For exactly six years following the date of the final payment the funds are allowed to accumulate interest. After this time, start of quarter withdrawals are made for a period of eight years. If the interest rate over the entire twenty-three year period is 4.6% compounded annually, then what is the maximum amount that can be withdrawn at the start of each quarter? Today + + 9 years 15 years + 23 years $441 $441 $441 PMT PMT PMT *** FV1 FV2 Calculate the following values on the time diagram. FV1 = $ FV2 = $ The maximum amount that can be withdrawn is $ b
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