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Mike needs to receive $40,000 per year left(at the beginning of each year) from his investments for the next 30 years. His opportunity cost of
Mike needs to receive $40,000 per year left(at the beginning of each year) from his investments for the next 30 years. His opportunity cost of money is 5 percent. How much does he need in an account today to generate this level of income if he fully depletes the account?
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