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You have reached age 60 with a modest fortune of $3 million and are considering early retirement. How much can you spend each year for

You have reached age 60 with a modest fortune of $3 million and are considering early retirement. How much can you spend each year for the next 30 years? Assume that spending is stable in real terms. The nominal interest rate is 10 percent and the inflation rate is 5 percent.

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