For planning purposes, an individual wants to be able to spend 160,000 per year, at the end

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Question:

For planning purposes, an individual wants to be able to spend €160,000 per year, at the end of each year, For an anticipated 30 years in retirement. In order to fund this retirement account, He will make annual deposits of €11,748 at the end of each of his working years. What is the minimum number of such deposits he will need to make to fund his desired retirement? Use 5% interest compounded annually for all calculations.