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The account pays 791 percent per year compounded annually

Some money has been accumulated for retirement. $56,006 has been withdrawn at the beginning of of the year for the next 22 years starting today. How much money has been accumulated for retirement? The account pays 7.91 percent per year, compounded annually. The present value of the cash flows is how the answer would be found.

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Finance Basics: The account pays 791 percent per year compounded annually

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