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How long will savings be able to accommodate retirement plan

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Question: A person plans to retire today and expects to begin living off $50,000 received annually beginning one year from now and continuing until death. The person currently has $550,000 in savings that earns 10% interest annually. How long will the savings be able to accommodate this retirement plan? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

Reference no: EM132032311

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