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Sandra Gonzalez is ready to retire and has saved up $200,000

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Sandra Gonzalez is ready to retire and has saved up $200,000 for that purpose. She wants to amortize (liquidate) that amount in a retirement fund so that she will receive equal annual payments over the next 25 years. At the end of the 25 years, there will be no funds left in the account. If the fund earns 12% interest, how much will Sandra receive each year?

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Sandra Gonzalez is ready to retire and has saved up $200,000

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