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Q #2 Ali has $67,000 in surplus and wishes to purchase an annuity that will provide him with a steady income over the next 8
Q #2 Ali has $67,000 in surplus and wishes to purchase an annuity that will provide him with a steady income over the next 8 years. He has heard that the ABC bank is currently paying 9 percent compound interest on an annual basis. If he were to deposit his funds, what year-end equal-dollar amount (to the nearest dollar) would he be able to withdraw annually such that he would have a zero balance after his last withdrawal 8 years from now? Also make the amortization table
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