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You are going to withdraw $ 6 0 0 at the end of each year for the next 5 years from an account that pays

You are going to withdraw $600 at the end of each year for the next 5 years from an account that pays interest at a rate of 7.00% compounded annually. The account balance will reduce to zero when the last withdrawal is made. How much interest (in dollars and cents) will you earn on the account over the 5-year life? (5 marks)

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