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Compute the amount david can withdrawal

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David wishes to retire in 20 years. After retirement, David expects to live another 15 years. He plans to make equal annual deposits at $15,000 into his retrirement account, starting today, and would like to withdraw an equal amount of money per year for 15 years starting the day he retires. (Note, the annual deposits and withdrawals all made at the beginning of each year.) Assume David earns an annual interest rate of 11% p.a.. Compute the amount David can withdrawal each year during his retirement life according to his life expectancy. state your answer in dollars with two decimal places

Reference no: EM132491490

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