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posted by shelly Sunday, October 27, 2013 at 6:13pm.
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?
FV = PV × (1+r)^n FV = 400000(1.05)^15 =831571.27
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