Mary wants to spend 250000 during each year in retirement, Finance Basics

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Mary wants to spend 250000 during each year in retirement

Question: Mary wants to spend $250,000 during each year in retirement. She wants the money to last for 30 years. She plans to invest $25,000 a year for 35 years and she expects all investments to earn at least 6% a year. Will she reach her goal of being able to spend $250,000 during retirement? Please show all work.

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Finance Basics: Mary wants to spend 250000 during each year in retirement

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