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You are 30 years old today. You wish to retire at age 65. How much money...

You are 30 years old today. You wish to retire at age 65. How much money must you deposit at the end of each year so that when you retire at age 65, you will be able to withdraw $2,500 at the end of each month until age 85?

Assume you can earn interest at the rate of 5.5% compounded daily during the entire period from age 30 to 85.

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jeff jeffy answered 1 year ago
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