Question: Question 4 : [ 7 marks ] Deposits of $ 1 , 0 0 0 are made into a fund at the beginning of each

Question 4: [7 marks] Deposits of $1,000 are made into a fund at the beginning of each year for the next
20 years. At the end of the 20th year, annual withdrawals from the fund commence and continue
forever. If the interest rate is i(1)=6.5% per year, how large are the withdrawals?
Question 4: [7 marks] Deposits of $1,000 are made into a

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