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Over the past 25 years your parents saved money each year

Over the past 25 years your parents saved money each year for their retirement. They just retired and expect to live another 35 years. They expect to earn 6 percent annually in the future. If they wish to spend all of their money during their lifetime by spending $60,000 per year, how much must they have in their account now?

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Finance Basics: Over the past 25 years your parents saved money each year

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