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You are planning for a successful retirement. Based on the lifestyle that you would like in retirement, you need a monthly distribution of $18000.

 

You are planning for a successful retirement. Based on the lifestyle that you would like in retirement, you need a monthly distribution of $18000. If you estimate that you will earn 6% compounded monthly and want your retirement distribution to last for 25 years: What is the amount the Payout Annuity must start with? How much interest is earned during the distribution period? Round to the nearest cent (or 2 decimal places). Do not include dollar sign or commas.

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