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Assume your goal is to retire at age 65 and you estimate you will live until...

Assume your goal is to retire at age 65 and you estimate you will live until age 90. Your income at age 30 is $50,000 and you expect this to increase at a rate of 8% per year. The nominal rate of return on your investment portfolio is 6% and you plan to save 15% of your income per year. The expected rate of inflation is 3%.

How much will your fund pay per year during your retirement?

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