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How much can be withdrawn on every future birthday

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Today is John's 50th birthday. He plans to put aside $2000 every month (starting today) till his 65th birthday. He then wants to be able to withdraw the same amount of money every birthday(starting with his 66th) up to and including his 85th birthday. He believes that an interest rate of 10.8% per annum at monthly compounding is reasonable estimation. How much can be withdrawn on every future birthday?

Reference no: EM132386220

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