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Your older brother turned 40 today, and he is planning to save $15,000 per year for retirement, with the first deposit to be madeone year

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Your older brother turned 40 today, and he is planning to save $15,000 per year for retirement, with the first deposit to be madeone year from today. He wit invest in a mutuat fund that's exmected to provide a return of 6.5% per vear. He plans to retire 25 years from today when he turns 65 , and he expects to live for 25 years after retirement, to age 90 . Under these assumptions, how much can he spend each year after he retires? His first withdrawal will be made at the end of his first retirement year

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