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Your parents plan on retiring in 1 9 years. In their retirement, they plan to withdraw a constant amount at the end of every year

Your parents plan on retiring in 19 years. In their retirement, they plan to withdraw a constant amount at the end of every year and do that forever. Assume that the annual interest rate is 8%, that they have $48,000 saved today, and that they plan to save $16,000 at the end over every year until their retirement. What retirement income will they have? Enter your answer rounded to the nearest dollar.

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