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Formula question You have just retired with savings of $1.5 million. if you expect to live for 30 years and to earn 8% a year

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You have just retired with savings of $1.5 million. if you expect to live for 30 years and to earn 8% a year on your savings, how much can you afford to spend each year? Assume that you spend the money at the start of the year.

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