Question

You would like to retire at the end of 40 years with an annual pension of...

You would like to retire at the end of 40 years with an annual pension of $1 million per year for the following 30 years. How much would you have to invest each year for the next 40 years in order to meet those withdrawals. Assume you can invest your money at 10% per year for the entire 70 year period.

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