Question: Using the example of a savings account, explain the difference between the effective annual rate and the annual percentage rate. If you invest the lump

Using the example of a savings account, explain the difference between the effective annual rate and the annual percentage rate.
If you invest the lump-sum of $100,000 today and earn 12% per year over the next 30 years, what is the most you can spend in equal amounts out of the fund each year over that time?

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