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9. You are ready to retire. A glance at your 401(k) statement indicates that you have $950,000. If the funds remain in an account earning

9. You are ready to retire. A glance at your 401(k) statement indicates that you have $950,000. If the funds remain in an account earning 8.5%, how much could you withdraw at the beginning of each year for the next 25 years? Round to two decimal places.

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