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Once you retire at age 65, you believe that you will spend $100,000 a year for the following 20 years after which time you presumably
Once you retire at age 65, you believe that you will spend $100,000 a year for the following 20 years after which time you presumably die. If the interest rate is expected to be 6% per year during that time, what is the total amount of money that you will need to accumulate to reach your retirement goal? You may assume that you will always withdraw from the account at the end of the year.
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