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Suppose an investment account with $100,000 in it today earns an interest rate of 4% per year. If one year from today you withdraw $5,163.19
Suppose an investment account with $100,000 in it today earns an interest rate of 4% per year. If one year from today you withdraw $5,163.19 and continue to draw that amount annually, how many withdrawals of that amount could you make before the account would be depleted? Choose the closest answer.
a.
34
b.
35
c.
19
d.
38
e.
36
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