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ps8 4 Derek decides that he needs $144,977.00 per year in retirement to cover his living expenses. Therefore, he wants to withdraw $144977.0 on each

ps8 4

Derek decides that he needs $144,977.00 per year in retirement to cover his living expenses. Therefore, he wants to withdraw $144977.0 on each birthday from his 66th to his 85.00th. How much will he need in his retirement account on his 65th birthday? Assume a interest rate of 10.00%.

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