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I receive a $1,000,000 inheritance on January 1st, 2020. I cannot withdraw any of it until January 1st, 2035. I plan on withdrawing the same
I receive a $1,000,000 inheritance on January 1st, 2020. I cannot withdraw any of it until January 1st, 2035. I plan on withdrawing the same amount for 30 years. How much can I withdraw each year? (assuming an 8% interest rate)
****Please explain how you got the answer. I need to learn how to do this****
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