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You have just retired and reached your objective of accumulating $3,600,000 in your retirement fund. You expect to live for another twenty-five years (exactly) and wish to leave $2,000,000 to a university when you are gone. What is the most that you could withdraw from this fund at the end of each quarter and still leave the money to this university? The fund is expected to return six percent per annum, compounded monthly?(show your work and formula)

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92800666

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