Question: At the time they retire, a couple has $200,000 in an account that pays 8.4% compounded monthly. (A) If the couple decides to withdraw equal

At the time they retire, a couple has $200,000 in an account that pays 8.4% compounded monthly.
(A) If the couple decides to withdraw equal monthly payments for 10 years, at the end of which time the account will have a zero balance, how much should the couple withdraw each month?
(B) If the couple decides to withdraw $3,000 a month until the balance in the account is zero, how many withdrawals can the couple make?

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