Now you are 20 years old. To maintain the same lifestyle wh…
Now you are 20 years old. To maintain the same lifestyle when you retire in the next 50 years you must have an annual income of $50,000 for the rest of your life ( n=infinity) starting when you are 71 years old. Find the amount of money that you must deposit to a Bank now so that this amount will produce such an income for you in the next 50 years. Assuming that the interest rate will be stable at 10% for a long period of time. Warning: Answer must be an INTEGER number only”, no decimal, no period, no comma, no sign in the front such as $, plus/minus and no unit at the end . You may round up or round down as needed such as 2.989 = 3 and 45.412= 45. No credit for wrong input format.
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