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Wat is the maximum amount that you could withdraw at the

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Reference no: EM13567145

You have deposited $16,700 in a special account that has a guaranteed interest rate 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

Reference no: EM13567145

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