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How much will he need in his retirement account

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Question: Derek decides that he needs $170,151.00 per year in retirement to cover his living expenses. Therefore, he wants to withdraw $170151.0 on each birthday from his 66th to his 86.00th. How much will he need in his retirement account on his 65th birthday? Assume a interest rate of 5.00%.

Reference no: EM133372153

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