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14 Feb 2018

You have accumulated some money for your 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 your retirement? Your account pays you 7.5% per year compounded annually? Show work. Round answer to two decimal places.

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Deanna Hettinger
Deanna HettingerLv2
15 Feb 2018

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1. $2,560
2. $2,850
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