Amount of annuity and retirement planning

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Reference no: EM131587551

Amount of Annuity, Retirement Planning

You plan to retire in 40 years from today with $500,000 in your bank account. If your bank pays 5% interest rate. How much do you have to put away every year to attain your objective of $500,000 retirement benefit in 40 years from today?

Reference no: EM131587551

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