Pollard Moreno
11/22/2023 · Senior High School

You want to be able to withdraw \( \$ 35,000 \) from your account each year for 30 years after you retire. You expect to retire in 20 years. If your account earns \( 5 \% \) interest, how much will you need to deposit each year until retirement to achieve your retirement goals? \( \$ \) Round your answer to the nearest cent.

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You need to deposit approximately \$436,177.36 each year until retirement to achieve your goals.

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