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You are saving for retirement

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You are saving for retirement. To live comfortably, you decide that you will need $1.5 million dollars by the time you are 65. If you assume you are able to do that, and will live 15 more years (until age 80), the amount you can withdraw in each of those years at an interest rate of 5% before your retirement fund is empty is closest to:

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Reference no: EM132381108

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