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Today, Mr. Guardiola decides to save for his retirement. He is planning to contribute a fixed amount every year in a retirement account starting one year from today for 40 years when he wants to retire. Mr. Guardiola is planning to withdraw $150,000 at the end of each year for 30 years after he retires (40 years from today). If the retirement account pays 12% interest over the periods that he makes contribution and he makes withdrawals, how much Mr. Guardiola should deposit in the retirement account each year for the next 40 years?

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Financial Management, Finance

Category:- Financial Management
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