Money remaining in the retirement portfolio

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Reference no: EM131821513

On the day you retire, how much do you need to have saved in total to have a retirement portfolio that will pay you an annual payment (starting at the beginning day of your retirement) of $120,000 for 20 years? Your portfolio will earn 4% interest and at the end of the 20 years, you will have no money remaining in the retirement portfolio.

Reference no: EM131821513

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