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1)At age 24 you finish a Bachelor's Degree. You conclude that you will need a minimum of $2,200,000 in your retirement fund to retire comfortably.
1)At age 24 you finish a Bachelor's Degree. You conclude that you will need a minimum of $2,200,000 in your retirement fund to retire comfortably. Assuming a long term rate of return of 8% how much will you need to contribute monthly to reach your goal? Is this obtainable? (Please show work)
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