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How much could you withdraw

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Question - You deposit $5,000 starting today (your 20th birthday) and continue to do so until your 50th birthday. The account pays 12% compounded daily. How much could you withdraw starting your 51st birthday until your 70th birthday? Assume the interest rate is compounded daily until your 70th birthday.

a. $216,103.15

b. $215,522.43

c. $221,277.64

d. $222,529.79

e. $122,529.79

Reference no: EM132828185

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