Question: 18 Derek decides that he needs $158,431.00 per year in retirement to cover his living expenses. Therefore, he wants to withdraw $158431.0 on each birthday

18 Derek decides that he needs $158,431.00 per year in retirement to cover his living expenses. Therefore, he wants to withdraw $158431.0 on each birthday from his 66th to his 90.00th. How much will he need in his retirement account on his 65th birthday? Assume a interest rate of 8.00%. Submit Answer format: Currency: Round to: 2 decimal places

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