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You deposit $150,000 today in an account that pays an annual rate of 12 percent interest. You plan to withdraw $50,000 from this account at

You deposit $150,000 today in an account that pays an annual rate of 12 percent interest. You plan to withdraw $50,000 from this account at the end of the 7th year. You will make no additional deposits into or withdraw from this account. How much will be left in your account at the end of the 15th year? Assume that the interest is compounded quarterly.

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