Question
Carl wants to take out $2,800 each month to live off of for his retirement. He takes out $2800 every month for 25 years.
Carl wants to take out $2,800 each month to live off of for his retirement. He takes out $2800 every month for 25 years. How much money must be in the account for him to do this? The account earns 5.7% interest compounded monthly. Your answer needs to be to the nearest penny, that's 2 places after the decimal.
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