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Assume that you will retire in 3 0 years. You plan to be retired for a total of 3 0 years. You wish to withdraw

Assume that you will retire in 30 years. You plan to be retired for a total of 30 years. You wish to withdraw theequivalent of $50,000 per year (in today's dollars) from your retirement fund each year that you are retired (assumethat there will not be any adjustments for inflation during your retirement -- You will withdraw the same dollaramount every year that you are retired). The expected inflation rate for the next 30 years is 3%. You can earn 10%on your investments prior to retirement and you plan to earn 7% on your investments during retirement. Howmuch do you need to invest each month (beginning right now) in order to be able to afford to retire?

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