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A couple will retire in 30 years; they plan to deposit $40,000 a year for 30 deposits. They believe that they can earn 5% interest
A couple will retire in 30 years; they plan to deposit $40,000 a year for 30 deposits. They believe that they can earn 5% interest on retirement savings. After retirement, they would like to make 30 withdraws from retirement savings, how much can they withdraw each year? Assume the first deposit comes at the end of the first year, and the first withdraw comes at the end of year 31
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