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Al Vincent has decided to retire to Arizona in 12 years. What amount should Al...

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Accounting

Al Vincent has decided to retire to Arizona in 12 years. What amount should Al invest today so that he will be able to withdraw $29,000 at the end of each year for 17 years after he retires? Assume he can invest the money at 7% interest compounded annually. (Do not round intermediate calculations. Round your answer to the nearest cent.)

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