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What is the amount of the smaller concluding withdrawal

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Question - A person inherited $83000 and invests it immediately at 10.25% compounded monthly. The person decides to quit his/her job and withdraws $1650 at the end of each month for as long as possible.

a. How many full withdrawals of $1650 can be made?

b. What is the amount of the smaller concluding withdrawal at the end of the next month?

Reference no: EM133052545

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