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Suppose you purchased a stock a year ago. Today, you receive a dividend of $15 and you sell the stock for $125. If your return

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Suppose you purchased a stock a year ago. Today, you receive a dividend of $15 and you sell the stock for $125. If your return was 13%, at what price did you buy the stock? You have just retired with savings of $6 million. If you expect to live for 58 years and to earn 13% a year on your savings how much can you afford to spend each year (in 5 dollars)? (Assume that you spend the money at the start of each year.)

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