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Jack turns 22 today and plans to retire in 43 years. He intends to put $7,105 per year into a mutual fund account with the

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Jack turns 22 today and plans to retire in 43 years. He intends to put $7,105 per year into a mutual fund account with the first deposit to be made today. The mutual fund is expected to provide 11.5% return every year. He expects his savings to support him for 31 years after he retires. Suppose once Jack retires, he moves his savings into a safer mutual fund that accrues 5.2% interests and starts making equal withdrawals every year at the beginning of each year. How large can each of his withdrawals be? Round all your calculations to the nearest $1

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