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You want to be able to withdraw $25,000 each year for 30 years. Your account earns 8% interest. a) How much do you need in your account at the beginning? b) How much total money…

You want to be able to withdraw $25,000 each year for 30 years. Your account earns 8% interest. a) How much do you need in your account at the beginning? b) How much total money…
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You want to be able to withdraw $25,000 each year for 30 years. Your account earns 8% interest. a) How much do you need in your account at the beginning? b) How much total money will you pull out of the account?

asked
User Eiran
by
8.1k points

1 Answer

3 votes

Answer:

600

Explanation:

answered
User Adriel Jr
by
8.8k points
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