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How much will he need in his retirement account

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Question - Derek decides that he needs $142,931.00 per year in retirement to cover his living expenses. Therefore, he wants to withdraw $142931.0 on each birthday from his 66th to his 88.00th. How much will he need in his retirement account on his 65th birthday? Assume a interest rate of 5.00%.

Reference no: EM133109247

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