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How much need jack and jill in the retirement account

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Jack and Jill determined that upon retirement they will need to withdraw $50,000 annually, at the end of each year for the rest of the next 30 years. They know that they can earn 4% each year on their investment.

Problem 1: How much need Jack and Jill in their retirement account ( at the beginning of their retirement) to generate this future cash flow?

Problem 2: What is the present value of this annuity?

Reference no: EM132960803

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