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Provide four annual equal amount withdraws

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Reference no: EM131657402

8500 is deposited into an account paying 8% annually, to provide four annual equal amount withdraws beginning in one year (there will be no money left in the account after the last withdraw). How much remains in the account after the first payment has been withdrawn (money is always taken out at the end of the period)?

Reference no: EM131657402

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