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10. Assume that you plan to retire in 42 years and that you estimate you will need an income of $8,000 at the beginning of

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10. Assume that you plan to retire in 42 years and that you estimate you will need an income of $8,000 at the beginning of each month for 25 years, following your retirement. Upon your demise, you wish to leave an inheritance of $500,000 to your favorite child. You will earn 11.00 percent during your working years and 5.00 percent after you retire. How much must you save every month so that you will meet these goals? a. b. If you currently have $10,000 to invest toward your retirement, how much must you save every month to meet your goal

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