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How much must be saved for retirement

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Reference no: EM133015031

Question - Approximately how much must be saved for retirement in order to withdraw $100,000 per year for the next 30 years if the balance earns 5% annually, and the first payment occurs one year from now? This is gross, ignore Roth, Traditional, etc., only want the amount of money necessary to fund this retirement exercise.

Reference no: EM133015031

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