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A client retires with $ 3 . 7 5 million and requires the funds for 3 5 years - they can earn 8 . 5

A client retires with $3.75 million and requires the funds for 35 years- they can earn 8.5%, but inflation is 4.5%- how much can they spend annually in real dollars (assuming they require the funds on Jan 1)?

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