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A policyholder wishes to receive $5,000 per month in retirement. They plan to retire at the age of 64, the insurer is guaranteeing a 4%
A policyholder wishes to receive $5,000 per month in retirement. They plan to retire at the age of 64, the insurer is guaranteeing a 4% rate of return, and their life expectancy is 86. If they deposit each of the following amounts annually before retiring, at what age do they need to start saving?
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