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March 30, 2017

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upon retirement in 20 years Simon plans to invest $400,000 in a fund that earns 5%, what is the maximum annual withdrawal he can make over the following 15 years?

  • PFN2 - ,

    FV = PV × (1+r)^n
    FV = 400000(1.05)^15 =831571.27

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