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After retirement, you expect to live for 20 years. You would like to have 5,600,000...

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Finance

After retirement, you expect to live for 20 years. You would like to have 5,600,000 income each year. How much should you have saved in the retirement to receive this income, if the yield expected on your managed fund is 5% per year? (Assume that the payments start one year after the retirement).

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