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Find how much will need to save annually

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Problem 1: Barry Cuda has estimated that he will live for 25 years after he retires at age 67. He would like to be able to withdraw $90,000 annually from his retirement account for those 25 years assuming his account during retirement earns 6% annual interest. If Barry has 20 years until he retires, how much will he need to save annually at 9% to reach his goal?

Reference no: EM132659821

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