Sally Mander is planning on retiring in 30 years and she believes that she will live for 25 years after she retires. To play it safe, Sally would like to set up a retirement plan that will pay herself a fixed amount forever. Assuming 9% interest and annual deposits of $7500 over the next 30 years that she is working, and 6% interest forever after she retires, how much will Sally receive annually once she retires?
Sally Mander is planning on retiring in 30 years and she believes that she will
live for 25 years after she retires. To play it safe, Sally would like to set up a retirement plan that will pay herself a fixed amount forever. Assuming 9% interest and annual deposits of $7500 over the next 30 years that she is working, and 6% interest forever after she retires, how much will Sally receive annually once she retires?
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