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  3. 13 min has 590 000 in an annuity that pays 4 4 per

13 Min has 590 000 in an annuity that pays 4 4 per year compounded...

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Algebra

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13 Min has 590 000 in an annuity that pays 4 4 per year compounded monthly He wishes to make monthly withdrawals for the next 20 years beginning at the end of this month a Determine the maximum monthly payment that Min can receive b How much interest will he earn over the life of the annuity c Determine the maximum monthly payment that Min would receive if the interest rate were 5 per year compounded monthly d Determine the maximum monthly payment Min would receive if the interest rate were 6 per year compounded monthly

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