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Assume that you have just graduated ( Year 2 2 ) and that you are planning for your retirement. Because of Bright Futures and prepaid

Assume that you have just graduated (Year 22) and that you are planning for your
retirement. Because of Bright Futures and prepaid tuition, you have been able to save your
money and currently have a balance of $17,000 in your investment account. Because your
salary will increase over time, you believe that you can make annual deposits into your
investment account of $4,000 at Years 23 through 30(eight deposits), $12,000 in Years 31
through 40(ten deposits), and $30,000 in Years 41 through 65(25 deposits). You then plan
on making equal annual withdrawals from your investment account in Years 66 through 85
(twenty withdrawals). Since you do not know how long you will actually live, you would like
to have a balance in your account of $750,006 at Year 85. Assuming that your investment
account can earn an effective annual rate of 9.75 percent, with monthly compounding,
determine how much your twenty annual withdrawals can be in Years 66 through 85.
Answer is whole dollars, rounded to the nearest dollar, with no punctuation. For example, if
your answer is $150,224.75, enter "150225".
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