The money in the bank after 20 years. If the deposit amount is $650,000 into a bank account paying 5% interest compounded annually and withdraw $50,000 at the each of year.

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Chapter 12.4, Problem 2CYU

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To calculate: The money in the bank after 20 years. If the deposit amount is $650,000 into a bank account paying 5% interest compounded annually and withdraw $50,000 at the each of year.

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