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Question 3 3 pts Steve wants to retire at the end of this year (2020). What balance is required on December 31, 2020 to be

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Question 3 3 pts Steve wants to retire at the end of this year (2020). What balance is required on December 31, 2020 to be able to withdraw $30,000 at the end of each year for 12 years after retirement, beginning with a withdrawal on December 31, 2021? Assume an interest rate of 8%, compounded annually. $360,000 $226,080. $288,000. $331,200

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