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You deposit $ 1 , 0 0 0 , 0 0 0 into a bank account that pays you 4 % annual rate compounded annually.
You deposit $ into a bank account that pays you annual rate compounded annually. you withdraw $X from your account each year starting next year. After you made your th withdrawal, there is nothing left in your account. Find X
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Basic Finance An Introduction to Financial Institutions Investments and Management
Authors: Herbert B. Mayo
10th edition
1111820635, 978-1111820633
