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4. Caleb plans to retire in 9 years. The balance in his retirement account is $630,000, and he plans to contribute $1,200 per month into
4. Caleb plans to retire in 9 years. The balance in his retirement account is $630,000, and he plans to contribute $1,200 per month into his retirement account until retirement. He assumes that his account will earn 7.5% annually during his earning years and 4.5% during his retirement years. Lets say he wants to withdraw $8,000 per month in retirement. How long (in years) will his money hold out?
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