Problem $18$

Intro

You just turned $23$ years old and want to retire when you turn $65.$ You expect to live for $25$ years after retirement and want to withdraw $$50,000$ per year in retirement, starting on your ${65}^{th}$ birthday.

You expect to earn a return of $4\%$ on your investments every year.

Part $1$

Attempt $\frac{2}{3}$ for $10$ pts$.$

What is the total present value $($as of your ${65}^{th}$ birthday$)$ of the withdrawals you expect to make in retirement?