- #1
Joe_1234
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P25,000 is deposited in a savings account that pays 5% interest, compounded semi-annually. Equal annual withdrawals are to be made from the account, beginning one year from now and continuing forever. The maximum amount of the equal annual withdrawal is closest to
A. P625
B. P1000
C. P1250
D. P1625
A. P625
B. P1000
C. P1250
D. P1625