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will rate the answer (3) Wade has completed a retirement needs analysis and determined that he needs to have $2.5 million accumulated in his ROTH
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(3) Wade has completed a retirement needs analysis and determined that he needs to have $2.5 million accumulated in his ROTH IRA account at age 70 to live comfortably in retirement. Wade expects to live to age 100 . Wade's ROTH IRA account is expected to earn 6% annually into perpetuity. Assuming no inflation and no other sources of retirement income, how much can Wade take out of his ROTH IRA account annually at the beginning of each year and still have $1 million remaining at death to leave to his heirs? END or BGN Mode = BGN MODE PV = N= i= PMT = FV= Step by Step Solution
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