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8 February, 16:27

At age 2 you inherited $219000 and invested it at 12.5% compounded annually. How much can you withdraw annually in order to deplete the account if the first withdrawal is at age 20 and the last is at age 50? Note: your answer must be within $100 of the correct answer.

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  1. 8 February, 19:41
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    When you divide a whole number by a decimal less that 1, the quotient is greater than the whole number.
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