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Question 4 You have $ 5 0 0 , 0 0 0 saved for retirement. The account earns 6 % interest, compounded quarterly. How much

Question

4

You have $

500, 000

saved for retirement. The account earns

6 %

interest, compounded quarterly. How

much will you be able to withdraw each quarter, if you want to be able to take withdrawals for

20

years?

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