From her $1,500,000 retirement account, beginning in one year, Susan wishes to draw the first of twenty-five
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From her $1,500,000 retirement account, beginning in one year, Susan wishes to draw the first of twenty-five equal annual payments at the end of each year and still have $250,000 remaining at the time of the final withdrawal. Assuming the savings account will earn 3.5 percent per year, how much can she withdraw each period?
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