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Determining the first withdrawal

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You deposit $5,000 per year at the end of each of the next 25 years into an account that 18. pays 8% compounded annually. How much could you withdraw at the end of each of the 20 years following your last deposit if all withdrawals are the same dollar amount? (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.)

Reference no: EM131647368

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