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Suppose Jenna sells the bond, invests the proceeds in thestock fund, and then saves an additional $3000 at the end of each year asshe planned.If, indeed, Jenna continues to earn a 9%effective annualreturnon her stock fund, how much could she withdraw each year inretirement? (Assume she begins withdrawing the money from the accountin equal amounts at the end of each year once her retirement begins.

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Accounting Basics, Accounting

Category:- Accounting Basics
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