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Assume your sister is planning to retire in 35 years and she deposits $10,000 per year in an investment account which earns 7% for 35 years, on the last day of each year. If she is planning on investing this nest egg at 5% with plans to pay herself 100,000$ per year (with the first payment one day (and on every January 1st thereafter) after making the last deposit of $10,000) how many years and 1/10ths of a year will she be able to pay herself? a. 22 years b. 26.9 years c. 24.1 years d. 30.1 years.

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Financial Management, Finance

Category:- Financial Management
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