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Sam plans to withdraw $ 8 1 , 4 0 0 each year from his retirement account for a 2 6 - year period. The

Sam plans to withdraw $

81, 400

each year from his retirement account for a

26 -

year period. The account earns

9.5 %

annual interest. How much does Sam need to have in the account at the beginning of his retirement, in order to allow these withdrawals?

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