Ms. Sameera recently received 13 bonds with a face value of $53,000 per bond with...
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Ms. Sameera recently received 13 bonds with a face value of $53,000 per bond with a 10% annual coupon (paid annually on December 31 of each year) bonds that mature in exactly twenty years from her beloved grandfather. Shortly afterward, she became engaged to Mr. Samer, who asked her to sell the bonds, so they can live a luxurious life for two years in France. Sameera agreed, and sells her bonds now and puts the proceeds into an account that pays 10% compounded annually. Based on the above-given information, What would be the largest equal annual amounts she could withdraw for two years, beginning today assuming the bonds market rate is equal to 12%.
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