In 2006 harold deposited 50000 in an account paying 6, Finance Basics

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In 2006 harold deposited 50000 in an account paying 6

Question: In 2006, Harold deposited $50,000 in an account paying 6% annual interest. Harold wants to make five equal annual withdrawals from the account starting with the first withdrawal in 2017. Further, Harold wants to have exactly $100,000 left in the account in 2023. How large can each of the annual withdrawals be?

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Finance Basics: In 2006 harold deposited 50000 in an account paying 6

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Finance Basics: In 2006 harold deposited 50000 in an account paying 6

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