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You are planning for your future, In particular, you want to put some money in an account so that eventually you can make several inflationadjusted

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You are planning for your future, In particular, you want to put some money in an account so that eventually you can make several inflationadjusted withdrawals. Details include: (1) From the very beginning, your money grows at an annual rate of 7.2% each year. (2) At the end of year 14 you make your first withdrawal, in the amount of $498. (3) You continue your withdrawals for years 15 - 32 (note: to keep up with with inflation, you plan to increase the amount withdrawn by 3.7% each year). (4) After last withdrawal, you want to have $147,000 remaining in the account. How much should you invest today? A Between 10,000 and 15,000 B Between 15,000 and 17,000 C Between 17,000 and 19,000 D Between 19,000 and 25,000 Please put your answer on the Answer Sheet

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