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You want to retire in 22 years. To fund the retirement, you deposit $10,000 into an account now and plan to save an equal amount
You want to retire in 22 years. To fund the retirement, you deposit $10,000 into an account now and plan to save an equal amount each year. Once you retire, you want to withdraw $45,000 at the end of each year for 18 years. r=6%. How much do you need to save at the end of each year for the next 22 years?
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