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You have $28,000 in an account earning an interest rate of 6%

You have $28,000 in an account earning an interest rate of 6% what are the equal beginning of month with drawls you can make from this account such that it is completely depleted with the last withdrawal at the beginning of the last month in 16 years round to the nearest cent

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Expert Solution

So Equal withdrwals for the next 16 years with each withdrawal at the beginning of the month is $ 226.07

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jeff jeffy answered 2 years ago
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