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Scott plans to retire in ten years, when he is 65. At that time, he wants to receive the equivalent of $30,000 in todays dollars
Scott plans to retire in ten years, when he is 65. At that time, he wants to receive the equivalent of $30,000 in todays dollars at the beginning of every year for the rest of his life. Assuming a life expectancy of 90, how much will he need when he retires if he can earn 8.5% on his investments and inflation runs 4%?
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