Question: John works for a foundation and is tasked with giving a lot of money away. He is instructed to make 2 0 annual withdrawals (

John works for a foundation and is tasked with giving a lot of money away. He is instructed to make 20 annual withdrawals (all the same amount) and leave nothing in the account when done. The current balance in this giving account is $908,000, and the first withdrawal will occur one year from today. If the discount rate is 9.3%, how much can he withdraw each year?

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