What is the amount invested in the account initially

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Reference no: EM132044386

Andy invested a certain amount of money which he saves in account that earns 4% per year, compounded annually over a 15-year period. Starting in year 16, he begins making equal annual withdrawals $3500 for the next 10 years. Assuming Andy's account is fully depleted after making these withdrawals, what is the amount invested in the account initially?

Reference no: EM132044386

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