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Over the years, Samuel and Elizabeth Paget, of Elon, North Carolina, have accumulated $200,000 and $220,000, respectively, in their employer-sponsored retirement plans. If the amounts
Over the years, Samuel and Elizabeth Paget, of Elon, North Carolina, have accumulated $200,000 and $220,000, respectively, in their employer-sponsored retirement plans. If the amounts in their two respective accounts earn a 6 percent rate of return over Samuel and Elizabeth's anticipated 20 years of retirement, how large an amount could be withdrawn from the two accounts each month?(Use PMT function in Excel)
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