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For planning purposes, an individual wants to be able to spend $90,000 per year, at the end of each year, for an anticipated 50 years
For planning purposes, an individual wants to be able to spend $90,000 per year, at the end of each year, for an anticipated 50 years in retirement. In order to fund this retirement account, he plan to make annual deposits of $30,000 at the end of each of his working years. What is the minimum number of such deposits he will need to make to fund his desired retirement? Use 12% as an annual simple rate for all calculations. O 13 payments. O 23 payments. 0 33 payments. O 35 payments.
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