Planning to retirement-future general inflation rate

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A man is planning to retire in 20 years. money can be deposited at 6% interest compounded monthly, and it is also estimated that the future general inflation rate will be 4% compounded annually. What amount end of month deposit must be made each month until the man retires so that he can make annual withdrawals of $60000 in terms of todays dollars over the 15 years following his retirement.

Reference no: EM131074026

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