Sally Mander has been saving $4500 annually in her retiremen…
Sally Mander has been saving $4500 annually in her retirement account which has been earning 9% for the past 10 years and she plans to continue saving for an additional 25 years (for a total of 35 years). To play it safe, Sally wants to assume that she will live forever, and her retirement funds will be put in a safer investment earning 4% during her retirement years. Once she retires, how much will Sally be able to withdraw from her retirement account annually forever?
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