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Suppose Rachel Townsley deposits $10,000 into an account that pays 8 percent interest compounded annually.(a) If she withdraws 10 equal annual amounts from the account,
Suppose Rachel Townsley deposits $10,000 into an account that pays 8 percent interest compounded annually.(a) If she withdraws 10 equal annual amounts from the account, with the first withdrawal oocuring 1 year after the deposits, how much can she withdraw each year in order to deplate the fund with the last withdrawal? (b) If first drawal is delayed for 2 years, how much can she withdraw each of the 10 years?
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