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Peter wishes to create a retirement fund from which he can draw $ 4 0 , 0 0 0 when he retires and the same

Peter wishes to create a retirement fund from which he can draw $40,000 when he retires and the same amount at
each anniversary of his retirement for 20 years. He plans to retire 15 years from now. What investment need he
make today if he can get a return of 6% per year, compounded annually?
Do not round the intermediate calculations, but round your final answer to two decimal places.
Peter needs to invest $
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