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The solution to this problem requires time value of money calculations.Reference to Tables 9-1 through 9-4 in the text is necessary to complete the calculations.
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Mackie's individual retirement account (IRA) currently has a balance of $100,000 and is earning 6%.Beginning one year from today,what equal annual amounts can be withdrawn from the IRA for ten years so that the balance after the tenth withdrawal is zero?
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