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Problem 9 - 6 You want to withdraw $ 2 , 5 0 0 per year for the next three years starting in one year.

Problem

9 - 6

You want to withdraw $

2, 500

per year for the next three years starting in one year. If the bank pays interest annually at

3 %,

how much must you put in today so that he can make the planned withdrawals?

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