Question: Based on your outstanding performance, you have received a bonus of $100,000 at work. You deposit the entire amount in your bank account today. Assume

Based on your outstanding performance, you have received a bonus of $100,000 at work. You deposit the entire amount in your bank account today. Assume that your deposit earns 12% per year over the next 15 years. What is the most you can spend in equal amounts out of the fund at the end of each of the next 15 years?

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