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Business, 02.06.2021 17:30 Ashley606hernandez

Your 75-year-old grandmother expects to live for another 15 years. She currently has $1,000,000 of savings, which is invested to earn a guaranteed 5% rate of return. If inflation averages 2% per year, how much can she withdraw (to the nearest multiple of 1000) at the end of each year and keep the withdrawals constant in real terms, i. e., growing at the same rate as inflation and thus enabling her to maintain a constant standard of living

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