Account balance is zero immediately after last withdrawal

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Reference no: EM131590510

Jane makes 5 annual payments of $X starting now (t-0) into an account that pays an interest of 5% per year compounded annually, She withdraws $1,000 each year for 10 years, starting one year after the last deposit. If the account balance is zero immediately after the last withdrawal, what is X?

Reference no: EM131590510

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