You plan to retire 33 years from now. You expect that you will live 27 years after retiring. You want to have enough money upon retirement age to withdraw $180,000 from the account at the end of each year you are expected to live and still have $2,500,000 left in the account at the time of your expected death. you plan to accumulate the retirement fund by making equal annual deposits at the end of each year for the next 33 years. You expect that you will be able to earn 12% per year on your deposits. However, you only expect to earn 6% per year on your investment after you retire since you will choose to place the money in less risky investments. What equal annual deposits must you make each year to reach your goal?
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