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You plan to start saving so you can retire in 40 years. After retirement, you expect to live 20 years. You wish to be able to withdraw $50,000 per year at the end of every year for the 20 years during your retirement. What is the dollar amount you need to invest at the end of each year for the next 40 years to be able to accomplish this plan if the interest rate is 5 percent?

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Financial Management, Finance

Category:- Financial Management
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