What was the amount he withdrew at the end of eighth year

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Mr. Smith has saved $ 1200 each year for 25 years. A year after the saving period ended, Mr. Smith withdrew $ 4500 each year for a period of 5 years. In the sixth and seventh year, he only withdrew $ 3000 pre year. In the eighth year, he decided to withdraw the remaining money in his account. If the interest rate was 5% per year throughout the whole period, what was the amount he withdrew at the end of the eighth year?

Reference no: EM13832798

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