Question
Find the present value of the annuity necessary to fund the withdrawal of $600 per month for 10 years, if the annuity earns 2% per year and if there is to be $10,000 to be left in the annuity at the end of the 10 years. (Assume end-of-period withdrawal and compounding at the same intervals as withdrawal. Round your answer to the nearest ten cents.)
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