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3 3. You hope to retire in 40 years and you would like to have $3.5 million in the bank at that time to sustain

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3. You hope to retire in 40 years and you would like to have $3.5 million in the bank at that time to sustain your retirement years. If you can earn 12% on your investments, how much must you save monthly if you save nothing for the next 10 years? a. $1209 b. $1313 c. $1105 d. $1417 e. $1001

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