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You want to be able to withdraw the specified amount periodically from a payout annuity with the given terms. Find how much the account needs
You want to be able to withdraw the specified amount periodically from a payout annuity with the given terms. Find how much the account needs to hold to make this possible. Round your answer to the nearest dollar.
Regular withdrawal: | $4400 |
Interest rate: | 3% |
Frequency | quarterly |
Time: | 27 years |
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