What yearly payments will the person recieve for the last

Reference no: EM13203574

A person establishes a sinking fund for retirement by contributing $7,500 per year at the end of each yearfor 20 years. For the next 20 years, equal yearly paymentsare withdrawn, at the end of which the account will have a zero balance. If money is worth 9% compounded annually, what yearly payments will the person recieve for the last 20 years?

Reference no: EM13203574

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