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You have just won the lottery and will receive a lump - sum payment of $ 2 2 . 8 5 million after taxes. Instead

You have just won the lottery and will receive a lump-
sum payment of $22.85 million after taxes. Instead of
immediately spending your money, you plan to
deposit all of the money into an account that will earn
5.05 percent. If you make equal annual withdrawals
for the next 25 years, how much can you withdraw
each year starting exactly one year from now?
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