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A person contributes 4 , 0 0 0 per year into her retirement fund. The fund grows ata compound rate of 5 % .

 
  • A person contributes £4,000 per year into her retirement fund. The fund grows ata compound rate of 5%.How long would the money last if she were to cease contributing to thefund when it reaches £400,000 and begins withdrawing an initial amount of£20,000 which then increases every year by 5%, to account for inflation.
 

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