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Mr. Alex has $1,500,000 in his retirement savings account.

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Question

Mr. Alex has $1,500,000 in his retirement savings account. He wishes to withdraw the funds for next 12 years. The account is earning 3.0 % interest compounded monthly. How much can he withdraw every month from the account?

 

Paper#27226 | Written in 18-Jul-2015

Price : $27
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