How big can francisco withdrawals be

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Reference no: EM13145488

Francisco believes in planning ahead. So he decides to find out how much he can draw from a retirement account for 30 years if he invests exactly $1,000 each year in the account. Suppose that he can earn 5% on this long-term account, that he will make 40 deposits, and that he will make the first withdrawal one year after the last deposit. How big can Francisco's withdrawals be?

Reference no: EM13145488

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