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You aunt has $937,000 in her retirement account. She wants to make 18 annual withdrawals from the account with the first withdrawal occurring TODAY, and
You aunt has $937,000 in her retirement account. She wants to make 18 annual withdrawals from the account with the first withdrawal occurring TODAY, and leave nothing in the account after the final withdrawal. If the discount rate is 7.0%, how much can he withdraw each year? Enter your answer as a positive number, and round to the nearest penny.
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