Question: You plan to save $ 4 0 , 0 9 5 per year for 7 years, with your first savings contribution later today. You and

You plan to save $

40, 095

per year for

7

years, with your first savings contribution later today. You and your heirs then plan to withdraw $X per year forever, with your first withdrawal expected in

8

years. What is X if the expected return per year is

9.20

percent per year? Input instructions: Round your answer to the nearest dollar.

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