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What maximum amount could marie withdraw each month

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Marie, an employee at McCormick, has determined that she will need $5000 per month in retirement over a 30-year period. She has forecasted that her money will earn 7.2% compounded monthly. Marie will spend 25-years working toward this goal investing monthly at an annual rate of 7.2%. What maximum amount could Marie withdraw each month so that her balance never decreases (nearest dollar)?

Reference no: EM132611400

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