Emain same during the deposit and withdrawal time

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Reference no: EM131044319

A man is planning to retire in 25 years. He wishes to deposit a regular amount every three months until he retires. He wants to withdraw $50,000 every year for the next ten years after this retirement. The first withdrawal will be made at the end of first year after his retirement. How much he must deposit if the interest rate is 9% compounded quarterly. The interest rate will remain same during the deposit and withdrawal time.

Reference no: EM131044319

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