Question: You just turned 2 2 and decide that you would like to save up enough money so as to be able to withdraw $ 8

You just turned 22 and decide that you would like to save up enough money so as to be able to withdraw $80,000 per year for 20 years after you retire at age 65, with the first withdrawal starting on your 66 th birthday. Assume you earn 5% on your retirement account compounding daily.
How much money will you have to deposit each month into an account earning 8%% per year (interest compounded monthly), starting one month from today, to accomplish this goal?
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a)206.64
b)270.76
c)250.76
d)306.98
 You just turned 22 and decide that you would like to

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