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Find the least amount that you can withdraw

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Question - Your grandfather set up a trust fund for you when you were born. Now that you are 21 years old you can start withdrwing from it. After looking at the available balance, you see that you have $25,481.25 in the account. Find the least amount that you can withdraw at the end of each 6 months for the next 10 years assuming that the account has a rate of 8% compounded semi-annually. Show the use of the appropriate formula by indicating the information into the formula.

Reference no: EM132839713

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