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During your retirement you would like to receive $160,000 per year, with the first payment received on the day you retire. You expect to live
During your retirement you would like to receive $160,000 per year, with the first payment received on the day you retire. You expect to live for 30 years after you retire. You can earn a nominal return of 8 percent on your savings, and this is also the appropriate discount rate. What amount do you need to have on the day you retire that will provide your desired fixed annual retirement income? O a. $1,688,667.50 O b. $1,801.245.36 O c. $1,823,760.90 O d. $1,945,344.96
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