[Solved] Yarianny wants to withdraw $ 2 5 , 0 0 0

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Yarianny wants to withdraw $ 2 5 , 0 0 0 annually starting today for the next 2 0 years and will increase the withdrawals

Yarianny wants to withdraw $

25, 000

annually starting today for the next

20

years and will increase the withdrawals by

3.5 %

each year. If the annuity can earn

6 %

compounded semiannually, how much money needs to be invested in the fund today?

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