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How much money will you need to have in an account today if you wish to withdraw $ 1 , 0 0 0 at the

How much money will you need to have in an account today if you wish to withdraw $

1, 000

at the end of each month for the first

10

years and then $

1, 500

at the end of each month for an additional ten years? Assume that you can earn interest at

6 %

compounded monthly throughout.

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