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Suppose that deposit years = 30, withdrawal years = 20, and annual rate = 12. Find the payment amount P for withdrawals Q of $3000
Suppose that deposit years = 30, withdrawal years = 20, and annual rate = 12. Find the payment amount P for withdrawals Q of $3000 per month. If inflation is running at 2% per year, what value of P will give the first withdrawal the current purchasing power of $3000? The last withdrawal?
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