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Suppose your pension plan is an annuity with a gauranteed return of 5% per year, compounded...

Suppose your pension plan is an annuity with a gauranteed return of 5% per year, compounded monthly. You can afford to put $500 per month into the fund, and you'll work 45 years before you retire. If your pension is paid out monthly based on a 25 year payout, how much will you receive each month of your retirement?

Math   Statistics-And-Probability   
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