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Jeff has just started saving for retirement. He wants to be able to withdraw $5,000 a month for 10 years after retirement. (The first withdrawal

Jeff has just started saving for retirement. He wants to be able to withdraw $5,000 a month for 10 years after retirement. (The first withdrawal comes one month after

retirement, so it is a regular annuity, not an annuity due). Jeff has found the perfect retirement account that will provide him 5% interest compounded monthly

.

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