The company invests the money in an account

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Reference no: EM131308299

Snowball Enterprises received an investment of $392540 after winning a grant for new entrepreneurs. The company anticipates it will not see a profit for at least 4 years and would like to make the investment last that long. If the company invests the money in an account paying 1% compounded annually, how much can Snowball Enterprises withdraw each year for the next 4 years?

Reference no: EM131308299

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