Luis has $2 million saved for retirement and wants to make sure he can spend $100,000 each

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Luis has $2 million saved for retirement and wants to make sure he can spend $100,000 each year for the next 40 years.

He decides to leave $200,000 to charity when he dies. Now what interest rate must he achieve to reach his goal?

(Give 4 significant digits)

Posted Date: Jul 11, 2024 02:03 AM

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Luis has $2 million saved for retirement and wants to make sure he can spend $100,000 each

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