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Susan has a $ 3 , 0 0 0 , 0 0 0 retirement account. Beginning today, Susan wishes to withdraw the first equal annual

Susan has a $3,000,000 retirement account. Beginning today, Susan wishes to withdraw the first equal annual
payment through and including 2040 and still have $500,000 remaining after the final withdrawal. Assume the
retirement account will earn 7.5 percent per year.
a. How many annual payments are there?
b. How much can she withdraw each period?
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