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Mrs Mabuza plans to retire in 10 years times. She estimates that in order to ha...
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Mrs Mabuza plans to retire in 10 years times. She estimates that in order to have a certain pension at the end of each month for 20 years after retirement, she will need to have an investment of N$2 million on the day she retires. If she expects to earn a rate of return of 12% per annum (nominal) on her pension investment, what is the amount that she expects to draw each month for the 20 years during her retirement?
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