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Chen is 65 years old and about to retire. She has $820,000 saved to supplement...

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Finance

Chen is 65 years old and about to retire. She has $820,000 saved to supplement his pension and Social Security and would like to withdraw it in equal annual dollar amounts so that nothing is left after 12 years. How much does she have to withdraw each year if she earns 5 percent on her money?

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