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Please show work. Answer should be: 14 Problem 19.9 A fund earning 8% effective is being accumulated with payments of 500 at the beginning of

image text in transcribedPlease show work. Answer should be: 14

Problem 19.9 A fund earning 8% effective is being accumulated with payments of 500 at the beginning of each year for 20 years. Find the maximum number of withdrawals of 1,000 which can be made at the end of each year under the condition that once withdrawals start they must continue through the end of the 20-year period

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