You have accumulated some money for your retirement. You are going to withdraw $51,997 every year at the end of the year for the next 27 years.
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Get it written →You have accumulated some money for your retirement. You are going to withdraw $51,997 every year at the end of the year for the next 27 years. How much money have you accumulated for your retirement? Your account pays you 8.98 percent per year, compounded annually. To answer this question, you have to find the present value of these cash flows.
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