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Derek decides that he needs $ 1 2 3 , 5 7 2 . 0 0 per year in retirement to cover his living expenses.

Derek decides that he needs $123,572.00 per year in retirement to cover his living expenses. Therefore,
he wants to withdraw $123572.0 on each birthday from his 66 th to his 89.00 th. How much will he need in
his retirement account on his 65th birthday? Assume a interest rate of 6.00%.
Answer format: Currency: Round to: 2 decimal places.
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