Annual withdrawals = $200. Amount invested = $1000. Rate = 5%, Time = n
This information suggests that
present value = annual withdrawal x (P/A, i%, n)
1000 = 200 x (P/A, 5%, n)
(P/A, 5%, n) = 5
For n = 6, (P/A, 5%, n) = 5.0757 and for n = 5, (P/A, 5%, n) = 4.3295.
Hence n should be 5 and we can make 5 annual withdrawals of $200 each with $1000 deposited now.
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