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You have deposited $24,764 in a special account that has a guaranteed rate of return. If you withdraw $4,300 at the end of each
You have deposited $24,764 in a special account that has a guaranteed rate of return. If you withdraw $4,300 at the end of each year for 9 years, you will completely exhaust the balance in the account. The guaranteed rate of return is closest to: (Ignore income taxes.) Click here to view Exhibit 7B-1 and Exhibit 7B-2. to determine the appropriate discount factor(s) using the tables provided. Note: Round your intermediate calculations to 3 decimal places.
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