Question: Beginning 1 month from today David B. will deposit each month $200 into an account paying 6% nominal interest. He will make a total

Beginning 1 month from today David B. will deposit each month $200

Beginning 1 month from today David B. will deposit each month $200 into an account paying 6% nominal interest. He will make a total of 240 deposits (20 years). After the last deposit the money in the account will begin to earn 4% interest compounded annually. After another 10 years David will begin to withdraw annual amounts for a total of 10 years. How much can be withdrawn each year if the account is to be depleted (zero balance) after another 10 years?

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