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Ryan has accumulated savings of $2,300,000 by the time he decides to retire. If these savings are being invested at an interest rate of
Ryan has accumulated savings of $2,300,000 by the time he decides to retire. If these savings are being invested at an interest rate of 10%, how much can Ryan withdraw at the end of each year for the next 15 years? Present Value of Present Value of Future Value of a Future Value of a $1 an Annuity of $1 $1 an Annuity of $1 Period 10% Period 10% Period 10% Period 10% 52 28 0.621 3.791 5 1.611 S 5 5.645 10 0.386 10 6.145 10 2.594 10 3.505) 15 0.239 15 7.606 15 4.177 15 2.176 20 0.149 20 8.514 20 6.727 20 1.351 25 0.092 25 30 0.057 28 9.077 25 10.835 25 0.839 30 9.427 30 17.449 30 0.521 $342.976 $302,393 $153,333 O $549,7001
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