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(Ignore Income Taxes in This Problem

Question 4

Multiple Choice

(Ignore income taxes in this problem. ) You have deposited $21,618 in a special account that has a guaranteed interest rate of 18% per year.If you are willing to completely exhaust the account,what is the maximum amount that you could withdraw at the end of each of the next 9 years? Select the amount below that is closest to your answer.


A) $5,024
B) $7,080
C) $2,402
D) $2,834

Correct Answer:

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