Sinking fund for retirement by contributing

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A person establishes a sinking fund for retirement by contributing $2000 at the end of each quarter for 25 years. For the next 20 years, equal quarterly payments are withdrawn, at the end of which time the account will have zero balance. If the money is worth 6.5% compounded quarterly, what quarterly payments will the person receive for the next 20 years?

Reference no: EM131058422

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