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Shaggy currently has $7,000 saved. He plans to save $43,000 per year for 6 years, with his first annual savings contribution expected later today. He
Shaggy currently has $7,000 saved. He plans to save $43,000 per year for 6 years, with his first annual savings contribution expected later today. He then plans to withdraw $63,000 per year for as long as he can. Shaggy expects to earn 9.8 percent per year. How many payments of $63,000 can Shaggy expect to receive if his first annual payment of $63,000 is received in 7 years? Round your answer to 2 decimal places (for example, 2.89, 14.70, or 6.00).
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