Withdrawal each year = 9500 * (F/A, 13%,40) * (F/P, 13%,2) * (A/P, 13%, 30)
= 9500 * 1013.7042 * 1.2769 * 0.133411
= 1640522.75
You decide to open an individual retirement account (IRA) at your local bank that pays 13%/year/year....
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