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There is $22,000 in a fund at time 0. The fund is accumulating at 6% per annum with continuous compounding and money is withdrawn continuously.
There is $22,000 in a fund at time 0. The fund is accumulating at 6% per annum with continuous compounding and money is withdrawn continuously. The annual rate of withdrawal at time t is X(1+0.04). Find X to 2 decimal places such that the fund is completely exhausted after 10 years. Answer to the nearest cent
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