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You are currently 30 years if age. You intend to retire at age 60 and you want to be able to withdraw $150,000 each year,
You are currently 30 years if age. You intend to retire at age 60 and you want to be able to withdraw $150,000 each year, at the beginning of the year for 20 years during retirement. The first withdrawal will be received on your 60thbirthday. You would like to save enough money over the next 30 years to achieve your objective. You currently have $20,000 in savings. If you expect your investments to earn 10%, how much must you save at the end of the next 30 years to achieve your goal? Solve using Time Value Money on financial calculator.
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