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Q 5.38: An investor plans to retire now and wants to be able to withdraw $55,000 at the beginning of each year for 26 years.

Q 5.38:An investor plans to retire now and wants to be able to withdraw $55,000 at the beginning of each year for 26 years. Interest rates are expected to be 8% compounded annually. How much does the investor have to have saved in order to be able to retire today?

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