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Suppose that you are 23 years old, and making retirement plans. You are starting to contribute $550 per month to your retirement account at the

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Suppose that you are 23 years old, and making retirement plans. You are starting to contribute $550 per month to your retirement account at the beginning of each month. You intend to do so until the age of sixty three and then stop the contributions. You will retire at age 67. You receive a 6.5% APR compounded monthly on your account. How about if you want an annual perpetuity, what could you withdraw at the end of each year? $106000-$109000 $106000 $109000-$112000 $112000-$115000 >$115000

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