Question: Sammy has worked for a company with a retirement program, and today is retiring from her job with the amount of $ 105 in her
Sammy has worked for a company with a retirement program, and today is retiring from her job with the amount of $105 in her retirement account. She decides to withdrawal an equal amount from this account, once a year, beginning immediately, and ending 25 years from today (for a total of 26 payments). If the interest rate is 4.75%, solve for the annuity amount such that she uses up her full accumulation.
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