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Assume you expect to retire in 30 years.You want to be assured that you can provide yourself with annual cash
Assume you expect to retire in 30 years. You want to be assured that you can provide yourself with annual cash
flows of $70,000 at the end of each year after retirement. You plan to receive those cash flows for 25 years after retirement. Assuming you can earn a 9 % yield on your investments before retirement and 6 % after retirement, how much will you have to invest each year in order to provide for your retirement?