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How much could you withdraw today

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Question - Your grandmother just died and left you $100,000 in a trust fund that pays 5.5% interest. You must spend the money on your college education, and you must withdraw the money in 4 equal installments, beginning immediately. How much could you withdraw today and at the beginning of each of the next 3 years and end up with zero in the account?

Reference no: EM133034768

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