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A retirement plan guarantees to pay to you or your estate a fixed amount for 20 years. At the time of retirement, you will have
A retirement plan guarantees to pay to you or your estate a fixed amount for 20 years. At the time of retirement, you will have $73,425. The plan anticipates earning 8% interest. Given the following information, how much will you be able to take out on an annual basis while you are retired?
$1,435
$13,070
$7,479
$13,102
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