How much capital would be required to cover

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It has been determined that on average there will be a shortfall of $2,000 per month in ongoing income to meet all the long-term income needs. They do not want to use up any capital, only the earnings on that capital, to cover the shortfall. How much capital would be required to cover this shortfall if they could get an investment return of 4% per year on the capital?

Reference no: EM133118772

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