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Sam has won a lottery and will receive a lump sum payment of $100,000. He would like to experience a world-wide travel adventure and invest

Sam has won a lottery and will receive a lump sum payment of $100,000. He would like to experience a world-wide travel adventure and invest the leftover amount in an interest-bearing account so that he can withdraw $500 per month for 15 years. If the account pays 6% compounded monthly, how much must Sam deposit, and how much can he spend on his travel adventure?

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