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You plan to work for 40 years and then retire using a 25-year annuity. You want to arrange a retirement income of $4700 per month.

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You plan to work for 40 years and then retire using a 25-year annuity. You want to arrange a retirement income of $4700 per month. You have access to an account that pays an APR of 7.2% compounded monthly What size nest egg do you need to achieve the desired monthly yield? (Round your answer to the nearest cent.) $ 738981.06 1x

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