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You Have Deposited $16,700 in a Special Account That Has

Question 2

Multiple Choice

You have deposited $16,700 in a special account that has a guaranteed rate of return of 11% 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 6 years? Select the amount below that is closest to your answer.


A) $3,465
B) $3,089
C) $2,783
D) $3,947

Correct Answer:

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