Currently are planning for retirement

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Reference no: EM131495702

Harold and Maude Kelley currently are planning for retirement. They feel the will need to receive a payment of $50,000 at the beginning of each year for 20 years. If the Kelley’s investments that are the source of this payment are earning a 9% annual return over the course of the retirement, what amount must Kelley’s have accumulated at the time of their retirement to fund this payment?

Reference no: EM131495702

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