Equal annual end-of-the-year cash flow

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You have accumulated $1,233,040 for your retirement. How much money can you withdraw for the next 16 years in equal annual end-of the next 19 years in equal annual end-of-the-year cash flow if you invest the money at a rate of 7.98 percent per year,compound annually? Round the answer to two decimal places.

Reference no: EM131879479

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