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How much must there be in the account today

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Reference no: EM132506256

You are going to withdraw $522 at the end of each year for the next 24 years from an account that pays interest at a rate of 3% compounded annually. How much must there be in the account today in order for the account to reduce to a balance of $3886 after the last withdrawal?

Reference no: EM132506256

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