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You estimate you will need monthly withdrawals of $2,900 from your private retirement account ti supplement...

You estimate you will need monthly withdrawals of $2,900 from your private retirement account ti supplement Social Security during your retirement. Assuming you can earn annual returns of 4.7% during your retirement how much money do you need in your retirement account the month that you retire in order to ensure there are enough funds for monthly withdraws over 25 years?

$511,243

$1,651,682

$971,595

$471,302

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Answer #1

Answer: * Present Value - C* [1 – Cl+hi ] h periodic with drawal - $2.900 periodic interest rate - 4.7% = 0.39166% 12 ► no no

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