You have accumulated some money for retirement. You are going to withdraw 45,500 every year at the end of the year for the next 20 years. How much money have you accumulated for retirement?
You have accumulated some money for retirement. You are going to withdraw
45,500 every year at the end of the year for the next 20 years. How much money have you accumulated for retirement? Your account pays 7.5% per year compounded annually. To answer this question you have to find the present value of these cash flows.
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