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Jerry has just received an inheritance of $25,000, and he would like to use it to help him with his retirement. Since Jerry is 25 years old, he figures that the $25,000 can be invested for 40 years before he will need to use it for retirement. If he would like to have a monthly income of $6,500, how much money will he need to have in his retirement account to provide this income from interest only? Assume that Jerry is able to invest in real estate and can earn a 13% return on his investment. I have no idea how to solve this.

 
 May 31, 2015

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