You want to be able to withdraw $20,000 each year for 30 years. Your account earns...

 

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You want to be able to withdraw $20,000 each year for 30 years. Your account earns 7% interest. a) How much do you need in your account at the beginning? $ b) How much total money will you pull out of the account? $ 600,000 0 c) How much of that money is interest? $ You want to be able to withdraw $20,000 each year for 30 years. Your account earns 7% interest. a) How much do you need in your account at the beginning? $ b) How much total money will you pull out of the account? $ 600,000 0 c) How much of that money is interest? $

Answer rating: 100% (QA)

a To calculate the amount you need in your account at the beginning we can use the present value of ... View the full answer