What is the dollar amount of the given withdrawls

Reference no: EM131988283

Problem

Suppose you invest dollar 2,000 per year into a retirement fund beginning on your 21^th birthday, and make the last deposit on your 30th birthday. The fund pays 9.5 percentage interest, compounded annually. When you turn 65 you make the first of 10 equal withdrawls which bring the fund's balance to zero as you turn 74. What is the dollar amount of those withdrawls?

Reference no: EM131988283

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