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(Retirement Fund) You have started planning for retirement. When you retire you want to be able to withdraw $40,000 at the end of each year
(Retirement Fund) You have started planning for retirement. When you retire you want to be able to withdraw $40,000 at the end of each year for 25 years. If interest rates are 9% compounded monthly, How much money should you have in your retirement account upon retirement to be able to sustain these withdrawals? How much do you need to deposit at the end of each month to be able to retire in 45 years
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