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How much can you withdraw annually

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Reference no: EM133072615

Question - On your birthday, when you turned 3, $37400 was deposited in an account which earns 10.75% compounded annually.

Required -

a. How much can you withdraw annually for 8 years if the first withdrawal is made on the day you become 28?

b. State the total amount of interest earned on this account.

Reference no: EM133072615

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