A man wants to save up for his retirement. He assumes that he will retire...
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A man wants to save up for his retirement. He assumes that he will retire in 10 years. He predicts that he will live for 20 more years after his retirement and will be needing Rs. 250,000 per year to meet his expenditures. He will withdraw the first payment on the day he retires. He will invest his savings in a fund that will pay him 10% annually till he dies. He will make the first payment of his ten payments towards the retirement fund today. How much is the amount that he needs to invest each year while he is working X A. 2341230.02 B. 146905.316 C. 234123.002 OD. 234551.25
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