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You want to be able to withdraw the specified amount periodically from a payout annuity with the given terms. Find how much the account needs to hold to make this possible. Round your answer to the nearest dollar.

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November 15th, 2022

You want to be able to withdraw the specified amount periodically from a payout annuity with the given terms. Find how much the account needs to hold to make this possible. Round your answer to the nearest dollar.

Regular withdrawal: $1800
Interest rate: 2.5%
Frequency quarterly
Time: 30 years

 

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