Question
You have decided to start saving for your retirement. You feel starting at the end of this month you will be able to save $200
You have decided to start saving for your retirement. You feel starting at the end of this month you will be able to save $200 per month for 10 years and $500 a year for the next 15 years after that. When you have finished with this period you will still have 10 years left until you retire. Before you retire you feel that you will earn 11% interest per year. After you retire you will become more conservative and will only earn 7%. If you want to withdraw from your account for 25 years, how much will you be able to withdraw each month so nothing is left at the end?
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