Currently, you have a savings of $100,000 earning a rate of return of 4% p.a., monthly compounding.

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Currently, you have a savings of $100,000 earning a rate of return of 4% p.a., monthly compounding. You want to retire in thirty years with a nest egg of $1,000,000. How much do you have to save at the end of each month for the next thirty years in order to reach that goal?

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