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You expect to deposit $300 every month for the next 20 years (240 months), starting 1 month from today (t = 1 to t =
You expect to deposit $300 every month for the next 20 years (240 months), starting 1 month from today (t = 1 to t = 240). If the rate of interest is 10% / year, compounded monthly.
With the accumulated amount at the end year 20, you plan to make monthly withdrawals for the next 10 years, i.e. from month 241 to month 360.
Compute the amount of each month's withdrawal.
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