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Sixth month and increase your withdrawals

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Reference no: EM131467181

You are planning to make 18 monthly withdrawals beginning at the end of the sixth month. You plan to withdraw $144 in the sixth month and increase your withdrawals by $11 over the previous month's withdrawal. How much should you deposit now in a bank account that pays 12% per year compounded monthly?

Reference no: EM131467181

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