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Find how much money have accumulated for retirement

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Problem 1: You have accumulated some money for your retirement. You are going to withdraw $58,942 every year at the beginning of the year for the next 19 years starting from today. How much money have you accumulated for your retirement? Your account pays you 12.21 percent per year, compounded annually. To answer this question, you have to find the present value of these cash flows.

Reference no: EM132985061

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