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Suppose you wish to retire 35years from today. You estimate, you need P100,000 per year once you retire, with the first retirement funds withdrawn one year from the day you retire. An estimation of 7% earning per year on your retirement funds is possible and that you will need funds up to and including your 30th birthday after retirement. How much must you deposit in an account today so that you have enough funds for retirement?

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Financial Management, Finance

Category:- Financial Management
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