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Derek decides that he needs $130,725.00 per year in retirement to cover his living expenses. Therefore, he wants to withdraw $130725.0 on each birthday from
Derek decides that he needs $130,725.00 per year in retirement to cover his living expenses. Therefore, he wants to withdraw $130725.0 on each birthday from his 66th to his 89.00th. How much will he need in his retirement account on his 65th birthday? Assume an interest rate of 5.00%.
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