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A young couple plans on investing 1 1 . 0 0 % of their joint income every year until retirement. ( 3 0 . 0

A young couple plans on investing 11.00% of their joint income every year until retirement. (30.00 years). Their joint income in their first year of work will be $89,325.00. They believe their joint income will increase by 2.00% per year during their working life. Their investments will earn 7.00% per year on average.
They plan on their retirement lasting 23.00 years. They want to leave $132,131.00 to the American Cancer Society at the end of their retirement. Based on these assumptions, what yearly withdrawal can they make during retirement? (assume that the withdrawals are at the beginning of the year)

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