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11. You believe that you will need $800,000 by the time you retire in 40 years. Assume an interest rate of 6% per year. How

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11. You believe that you will need $800,000 by the time you retire in 40 years. Assume an interest rate of 6% per year. How much will you need to contribute to your IRA (individual retirement account) each year? 12. Given the above facts, how much would you have to contribute if you assumed that the interest rate will be 9.7%

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