About the retirement fund each year

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Assume Mr. Prudent pays $2,500 into his retirement fund each year from age 35 to age 65. After age 65, Mr. P will withdraw a fixed amount each year for 20 years until he is 85 years old. Assume his investments will earn 5% for the next 30 years, and 4% for the following 20 years during his retirement. How much money can Mr P withdraw each year during his 20 year retirement?

Reference no: EM131044388

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