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you recently received an inheritance of $2,000,000 after taxes. You decide to set aside all of that money in a retirement account that pays 5%
you recently received an inheritance of $2,000,000 after taxes. You decide to set aside all of that money in a retirement account that pays 5% interest and you plan on making year end contributions of $15,000 for the next 30 years until you reach retirement age. How much should you be able to withdraw at the end of each year of your 20 retirement years?
a. $240,454
b. $482,023
c. $613,639
d. $773,576
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