Question: Chen plans to save 20,200 dollars per year for 3 years. His first savings contribution is expected later today. He then plans to make withdrawals

Chen plans to save 20,200 dollars per year for 3 years. His first savings contribution is expected later today. He then plans to make withdrawals for 7 years. How much can Chen expect to withdraw each year if he expects to earn 10.1 percent per year, he makes equal annual withdrawals, and his first withdrawal is made in 4 years?

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