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Question: mark 60 years old who just retired earns dollar1500 per...

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Mark, 60 years old, who just retired, earns $1,500 per month as the payment of pension plan. He expects he would die at 80 years old and already had the saving account balance of $10,000,000 during his entire career of hard working. He intends to spend only $500 per month for daily hobby, when his son is affordable to support him. He will deposit the rest into the saving account for his son, when he dies. The interest rate for his saving account is 5%. How much will the son inherit after he dies?

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