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Perry began making investments on his 21st birthday and continued investing on future birthdays until age 65 (I. E., his last investment was on his
Perry began making investments on his 21st birthday and continued investing on future birthdays until age 65 (I. E., his last investment was on his 65th birthday). Assume Perry invested $2,000 on his 21st birthday and increased his investments each year at a rate of 4% more than the previous year. If Perry can earn 5% on his investments and makes uniform annual withdrawals, beginning at age 66 and continuing through age 85, the uniform annual withdrawal amount is closest to...
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