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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 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 $ in your investment account. Because your
salary will increase over time, you believe that you can make annual deposits into your
investment account of $ at Years through eight deposits $ in Years
through ten deposits and $ in Years through deposits You then plan
on making equal annual withdrawals from your investment account in Years through
twenty withdrawals Since you do not know how long you will actually live, you would like
to have a balance in your account of $ at Year Assuming that your investment
account can earn an effective annual rate of percent, with monthly compounding,
determine how much your twenty annual withdrawals can be in Years through
Answer is whole dollars, rounded to the nearest dollar, with no punctuation. For example, if
your answer is $ enter
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