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What annual rate of return must make on the account

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Reference no: EM133005944

Problem 1: You currently have $185,000 in an interest-earning account, and from this account you wish to withdraw $15,000 at the end of each year for 25 years. What annual rate of return must you make on this account to meet your objective?

Select one:

a.7.38%
b.6.38%
c.9.38%
d.8.38%

Reference no: EM133005944

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