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John Adams plans to retire at the age of 62. He wants an annual income of $60,000 per year. He believes that he will live
John Adams plans to retire at the age of 62. He wants an annual income of $60,000 per year. He believes that he will live to be 87. He will draw the money at the beginning of each year. How much interest will he earn during his retirement years if he will average 12 percent per year on his retirement account?
a | $972,941 |
b | $994,699 |
c | $1,029,414 |
d | $1,060,200 |
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