Question: You plan to save $ 2 3 , 6 0 5 per year for 7 years, with your first savings contribution in 1 year. You

You plan to save $23,605 per year for 7 years, with your first savings contribution in 1 year. You then plan to withdraw $X per year for 6 years, with your first withdrawal expected in 7 years. What is X if the expected return per year is 16.25 percent per year?

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