Question
Sarah plans to make 52 equal incremental withdraws of $170 at the end of each month from her savings account that pays 3.17% interest per
Sarah plans to make 52 equal incremental withdraws of $170 at the end of each month from her savings account that pays 3.17% interest per year with the first withdrawal at the end of this month. Sarah plans to have zero balance in his account once all the withdrawals are complete. How much must Sarah deposit today if she expects to withdraw an additional $3,925 (on top of the $170 recurring withdrawal) 7 years from today? Assume that all interest is compounded monthly.
Answer Format: INCLUDE ONLY NUMBERS AND DECIMALS IN YOUR ANSWER. Do not include "$" "," or any other formatting. Carry interim computations to at least 4 decimals.
Enter numerical answers as a positive number rounded to 2 decimal places (###.##)
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