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Walter decides he wants to start saving for retirement. On his 39th birthday he deposits $108000 in an account with an interest rate of j1=9%.

Walter decides he wants to start saving for retirement. On his 39th birthday he deposits $108000 in an account with an interest rate of j1=9%. On his 65th birthday he starts withdrawing money annually from the account for the next 15 years (That is, he makes 15 withdrawals). What size are the withdrawals?

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