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Suppose that you plan to start farming at age 2 5 and hope to retire at age 6 5 . Assume the availability of a

Suppose that you plan to start farming at age 25 and hope to retire at age 65. Assume the availability of a safe investment with an annual interest rate i=0.04, compounded quarterly. How much money would you have to divert from retained earnings per year to save enough to provide a $50,000 annuity for retirement spending that would last for 20 years.

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