How much money have you accumulated for your retirement, Finance Basics

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How much money have you accumulated for your retirement

Problem

You have accumulated some money for your retirement. You are going to withdraw $98,931 every year at the beginning of the year for the next 28 years starting from today. How much money have you accumulated for your retirement? Your account pays you 15.08 percent per year, compounded annually. To answer this question, you have to find the present value of these cash flows.

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Finance Basics: How much money have you accumulated for your retirement

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