Business, 05.03.2021 01:00 atsuedem974

XYZ has nothing in his retirement account. However, he plans to save $8,000 per year in his retirement account for each of the next 18 years. His first contribution to his retirement account is expected in 1 year. XYZ expects to earn 6.3 percent per year in his retirement account. XYZ plans to retire in 19 years, immediately after making his last $8,000 contribution to his retirement account. In retirement, XYZ plans to withdraw $65,000 per year for as long as he can. How many payments of $65,000 can XYZ expect to receive in retirement if he receives annual payments of $65,000 in retirement and his first retirement payment is received exactly 1 year after he retires

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XYZ has nothing in his retirement account. However, he plans to save $8,000 per year in his retireme...

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