Assume that 25 years ago your dad invested $320,000, plus $38,000 in years 2 through...
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Accounting
Assume that 25 years ago your dad invested $320,000, plus $38,000 in years 2 through 5, and $44,000 per year from year 6 on.
Determine the annual retirement amount that he can withdraw forever starting next year (year 26), if the $44,000 annuity stopped at year 25. The interest rate being 11% per year.
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