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You plan to deposit $5,000 at the end of each of the next 25 years. The account pays 8% compounded annually. You plan to start
You plan to deposit $5,000 at the end of each of the next 25 years. The account pays 8% compounded annually. You plan to start to withdraw an equal amount for 20 years , following your last deposit. How much can you withdraw? (The twenty-fifth and last deposit is made at the beginning of the 20-year period. The first withdrawal is made at the end of the first year in the 20-year period.)
A) $27,832 B) $18,276 C) $43,289 D) $37,230
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