Sandoval Lynch
01/15/2024 · Senior High School
You want to be able to withdraw \( \$ 45,000 \) from your account each year for 30 years after you retire. You expect to retire in 20 years. If your account earns \( 10 \% \) interest, how much will you need to deposit each year until retirement to achieve your retirement goals? \( \$ \)
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You will need to deposit approximately $7,405.83 each year for the next 20 years to achieve your retirement goal.
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