Joe is expecting to retire 28 years from now, at which time he wishes to have accumulated

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Joe is expecting to retire 28 years from now, at which time he wishes to have accumulated $750,000 in his retirement fund (money at that time). If the interest rate is 5% per year, how much should Joe put into his retirement fund at the end of each year in order to achieve his goal?

a. $4,559

b. $12,842

c. $19,118

d. $100,007

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