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You've won a lottery that pays you $2,000,000 today. If you invest the $2,000,000 today in an investment account that earns 4% APR (compounded monthly),
You've won a lottery that pays you $2,000,000 today. If you invest the $2,000,000 today in an investment account that earns 4% APR (compounded monthly), how much can you withdraw each month, starting in 6 months (the same amount each month) for 360 months?
$9,709 |
$9,548 |
$5,649 |
$5,556 |
No correct answer is given |
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