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July 24, 2014

Homework Help: maths

Posted by colin on Wednesday, July 18, 2012 at 1:25am.

How much money will I need to have at retirement so I can withdraw $60,000 a year
for 20 years from an account earning 8% compounded annually?
a. How much do you need in your account at the beginning
b. How much total money will you pull out of the account?
c. How much of that money is interest?

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