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Question 26 (3 points) Amy is meeting her financial planner today to open an investment account and start saving for her daughter's university education. This
Question 26 (3 points) Amy is meeting her financial planner today to open an investment account and start saving for her daughter's university education. This investment account generates 5% per year. Amy would make 15 annual payments of $9,000 each, with the first payment occurring today. Her daughter will start university 18 years from now, so Amy will take equal amount each year from this account to pay her daughter's annual tuition and living expenses. There will be four annual withdrawals in total, with the first withdrawal occurring 18 years from now. What is maximum amount that Amy can take out from this account each year? $70,446.23 $58,934.23 $63,401.61 $67,181.59 $62,050.86
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