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Your client just turned 21 years old today, turns 60. and she is planning to retire when she To support her retirement plan, she will
Your client just turned 21 years old today, turns 60. and she is planning to retire when she To support her retirement plan, she will be depositing $6,000 every six months into her bank account. The first deposit will be six months from today, and the last deposit will be on her 60th birthday. In addition, she plans to make a one-time deposit in the amount of $200,000 on the day when she turns 50. After retirement, your friend would like to withdraw a fixed amount of money every six months. The first withdrawal will take place six months after her retirement, and the last one will be on her 85th birthday. The relevant interest rate is 4% per year compounded semi-annually. How much will your friend be able to withdraw every period after retirement? Show your calculation
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