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You believe you will spend $240,000 a year for 16 years once you retire in 20 years. If the interest rate is 9.40% per year.

You believe you will spend $240,000 a year for 16 years once you retire in 20 years. If the interest rate is 9.40% per year. (Do not round intermediate calculations. Round your answer to 2 decimal places.)

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