65-year-old with accumulated savings of $650000 has chosen to retire. He wants to receive a fixed annual sum for the next 30years starting a year from now.

65-year-old with accumulated savings of $650000 has chosen to retire. He wants to receive a fixed annual sum for the next 30years starting a year from now. At a rate of Return of 4% P.A. how much can he expect to receive each year?

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