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Your uncle has $500,000 and wants to retire. He expects to live for another 20 years, and he also expects to earn 5% on his
Your uncle has $500,000 and wants to retire. He expects to live for another 20 years, and he also expects to earn 5% on his invested funds. How much could he withdraw at the beginning of each of the next 20 years and end up with zero in the account?
$40,474.12
$39,617.22
$39,259.89
38,210.76
$37,759.46
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