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Frank Smith is planning for his retirement. He will retire in 20 years, at which time he plans to begin withdrawing $60,000 annually. He is

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Frank Smith is planning for his retirement. He will retire in 20 years, at which time he plans to begin withdrawing $60,000 annually. He is expected to live for 20 years following his retirement His financial advisor thinks he can earn 9% annually. How much does he need to invest each year to prepare for his financial needs after retirement

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