How much can he spend each year after he retires

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Reference no: EM131959588

Your older brother turned 35 today, he is planning. to save over $7,000 per year for retirement, with the first deposit to be made one year from today. He will invest in a mutual fund that's expected to provide a return of 7.5% per year. He plans to retire 30 years from today, when he turns 65, and he is expected to live 25 years. after retirement, to age 90. Under these assumptions, how much can he spend each year after he retires? His first withdrawal will be made at the end of his first retirement year.

Reference no: EM131959588

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