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Richard received a $2.5 million cash flow and deposited the money in a guaranteed interest account that pays 8.8% APR, compounded monthly. What is the
Richard received a $2.5 million cash flow and deposited the money in a guaranteed interest account that pays 8.8% APR, compounded monthly. What is the maximum size, equal withdrawal that Richard can make each month over the next 20 years to achieve a zero balance after 20 years?
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