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I need help with this question You want to be able to withdraw $45,000 from your account each year for 25 years after you retire.
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You want to be able to withdraw $45,000 from your account each year for 25 years after you retire. If you expect to retire in 30 years and your account earns 6.9% interest while saving for retirement and 5.4% interest while retired: Round your answers to the nearest cent as needed. a) How much will you need to have when you retire? $ b) How much will you need to deposit each month until retirement to achieve your retirement goals? $ c) How much did you deposit into you retirement account? $ d) How much did you receive in payments during retirement? $ e) How much of the money you received was interest? $Step by Step Solution
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