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Question 10 1 pts An initial payment of $14,000 is deposited into a bank with a nominal annual interest rate of 5.5%, compounded semi-annually. You
Question 10 1 pts An initial payment of $14,000 is deposited into a bank with a nominal annual interest rate of 5.5%, compounded semi-annually. You would like to withdraw this amount in in a series of 5 equal annual sums, with the first withdrawal being 1 year form the deposit. What is the amount that should be withdrawn each year? $3,227.41 $3,285.27 $3,333.52 $3,21.29
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