A sum of 25000 is deposited into a savings account which, Business Economics

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A sum of 25000 is deposited into a savings account which

A sum of $25,000 is deposited into a savings account, which pays a yearly nominal 8% interest compounded semiannually. Equal annual withdrawals are to be made from the account, beginning 1 year from now and continuing forever. The maximum amount that can be withdrawn at the end of each year is closest to

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