Your Aunt Jane is making plans for retirement. She plans on living 30 years after...
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Your Aunt Jane is making plans for retirement. She plans on living 30 years after she retires and would like to have $50,000 per year paid annually on which to live. Her first withdrawal will be made one year after she retires and she anticipates that her retirement account will earn 8% annually. b) Assume that her first withdrawal will be made the day she retires. Under this assumption, what amount does she now need in her retirement account the day she retires?
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