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How much will be in the account

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Starting next year, you need $20,000 annually for four years to complete medical school. (One year from today, you will withdraw the first $20,000.) Your parents deposit an amount today in an investment paying 8.5% annual interest, which will provide the needed $20,000 disbursements. How much will be in the account immediately after you make the first withdrawal?

Reference no: EM131942180

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