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Ms. Connecticut, who just retired, wants to supplement her income in her remaining years. How much would she need to have on deposit today in
Ms. Connecticut, who just retired, wants to supplement her income in her remaining years. How much would she need to have on deposit today in her El Paso National Bank account, which earns an interest rate averaging 4.2% per year, if she wants to be able to withdraw $62,000 at the beginning of each year for the next 31 years (such that the first withdrawal is to be made today)? OA. $1,108,544.42 B. $3,968,737.62 OC. $536,851.41 D. $3,655,248.86 O E. $1,063,862.21
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