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You plan on withdrawing monthly payments for the next ten years and have deposited $100,000 in an account. If the rate of return is 8%

You plan on withdrawing monthly payments for the next ten years and have deposited $100,000 in an account. If the rate of return is 8% compounded monthly, determine the value of the monthly withdrawals.

Multiple Choice

$1,613.28
$1,413.28
$2,013.28
$1,813.28
$1,213.28

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