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2 5 . Assume you will start working as soon as you graduate from college. your retirement on your 2 5 th birthday and retire

25.Assume you will start working as soon as you graduate from college.
your retirement on your 25 th birthday and retire 40 years later. After retirement, you expect to live
20 more years. You wish to be able to withdraw USD 50,000 every year from the time of your
retirement for 20 years. What is the dollar amount you need to invest every year for 40 years, to be
able to accomplish this plan if the interest rate is 10 percent?
962(with margin: 2)
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