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You will retire in 30 years. At the beginning of each month until you retire, you will invest X earning interest at 9% convertible monthly.
You will retire in 30 years. At the beginning of each month until you retire, you will invest X earning interest at 9% convertible monthly. Starting at year 30, you will withdraw $4,000 at the beginning of each month for the next 15 years. Also, starting at year 30, your fund will only earn interest at 6% convertible monthly. Find X such that your account will be empty after the last withdrawal.
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