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You have just retired and reached your objective (see above) 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 Illinois Tech 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 IIT? The fund is expected to return six percent per annum, compounded monthly?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92800754

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