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A person deposits $2,000 each year for 25 years into an IRA. When she retires immediately after making the 25th deposit, the IRA is worth $220,000.
(a)Find the interest rate earned by the IRA over the 25-year period leading up retirement.
(b)Assume that the IRA continues to earn the interest rate found in part (A).How long can the retiree withdraw $30,000 per year? How long can she with draw $24,000 per year?
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