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Ron plans to withdraw $94,000 each year from his retirement account for a 21-year period. The account earns 7.5% annual interest. How much does Ron
Ron plans to withdraw $94,000 each year from his retirement account for a 21-year period. The account earns 7.5% annual interest. How much does Ron need to have in the account at the beginning of his retirement, in order to allow these withdrawals?
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$340,462.61
$978,867.15
$4,469,938.05
$114,584.96
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