You want to be able to withdrawal $30,000 each year for 20. Your account earns 6% interest.
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Question:
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You want to be able to withdrawal $30,000 each year for 20. Your account earns 6% interest.
A. How much do you need in your account at the beginning?
B. How much total money will you pull out of the account?
C. How much of that is interest?
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