Sammy has worked for a company with a retirement program, and today is retiring from...
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Sammy has worked for a company with a retirement program, and today is retiring from her job with the amount of $165 in her retirement account. She decides to withdrawal an equal amount from this account, once a year, beginning immediately, and ending 22 years from today (for a total of 23 payments). If the interest rate is 6.75%, solve for the annuity amount such that she uses up her full accumulation.
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