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Order answer: 8. You plan to retire in 25 years. You are going to deposit an amount beginning one year from now…

Custom Essays Economics Order answer: 8. You plan to retire in 25 years. You are going to deposit an amount beginning one year from now…

Economics

Order answer: 8. You plan to retire in 25 years. You are going to deposit an amount beginning one year from now…

8. You plan to retire in 25 years. You are going to deposit an amount beginning one year from now and ending at the end of year 25. At the end of your first year of retirement you plan to withdraw $80,000, and make an additional withdrawal for each of the next 15 years. You believe you can invest at 12%. If each deposit over the next 25 years will be the same amount each year, how much does it need to be?

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