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What annual pension will be able to draw

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Problem 1: The balance of Barry's superannuation account is currently $450,000. He intends to invest an additional $15,000 in the account each year, until he retires in 25 years' time. After retirement, Barry plans to draw an annual pension from the account for another 25 years. What annual pension will he be able to draw, if the account delivers a return of 7% p.a.?

Reference no: EM132623918

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