Order to have enough money on hand in retirement

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Reference no: EM131597257

Hank wants to start a savings account that he and his wife can use for spending money in their retirement years. He wants to be able to withdraw $7,200 per year for at least 20 years. If the account earns 3%, what would he need to deposit now in order to have enough money on hand in retirement? (Present Value)

Reference no: EM131597257

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