You plan on withdrawing monthly payments for the next ten years and have deposited $100,000 in an account. If the rate of return is 8% compounded monthly, determine the value of the monthly withdrawals.
A) $2,013.28
B) $1,813.28
C) $1,613.28
D) $1,413.28
E) $1,213.28
Correct Answer:
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