What is payment you should expect to receive in retirement

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Question: You will begin saving for retirement in a 401k account earning 9.93% with annual contributions of $8,500 for 35yrs. At that time, if you leave the money in the account and hope to live off of the annual payments for an additional 25yrs, what is the payment you should expect to receive in retirement? Please show all work.

Reference no: EM131943388

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