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Derek decides that he needs $167,020.00 per year in retirement to cover his living expenses. Therefore, he wants to withdraw $167020.0 on each birthday from

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Derek decides that he needs $167,020.00 per year in retirement to cover his living expenses. Therefore, he wants to withdraw $167020.0 on each birthday from his 66th to his 85.00th. How much will he need in his retirement account on his 65th birthday? Assume a interest rate of 5.00%. Answer Format: Currency: Round to: 2 decimal places. Enter Answer Here... Submit

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