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Assume you expect to retire in 30 years. You want to be assured that you can provide yourself with annual cash flows of $70,000 at
Assume you expect to retire in 30 years. You want to be assured that you can provide yourself with annual cash flows of $70,000 at the end of each year after retirement. You plan to receive those cash flows for 25 years after retirement. Assuming you can earn a 9 % yield on your investments before retirement and 6 % after retirement, how much will you have to invest each year in order to provide for your retirement?
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