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Problem #2 (20 pts) A man is planning to retire in 35 years. Money can be deposited at 12% interest compounded monthly. and it is

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Problem #2 (20 pts) A man is planning to retire in 35 years. Money can be deposited at 12% interest compounded monthly. and it is also estimated that the future general inflation rate will be 3% per year. He wants to make annual withdrawals of $100,000 in terms of today's dollars over the 25 years of retirement. Assuming that his first withdrawal occurs at the beginning of the first year of retirement. a. How much money, in terms of constant dollars, he should have in this fund at retirement? b. What is the amount of the first retirement withdrawal in terms of actual dollars? c. How much money, in terms of actual dollars, he should have in this fund at retirement? What amount of end-of-month deposit must be made until the man retires

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