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7 . On her 2 5 th birthday, a young woman engineer decides to start saving toward building up a retirement fund that pays 6
On her th birthday, a young woman engineer decides to start saving toward building up a retirement fund that pays interest compounded monthly the market interest rate She feels that $ worth of purchasing power in today's dollars will be adequate to see her through her sunset years after her th birthday. Assume a general inflation rate of per year.
Find the monthly deposit amount:
Living expenses raise by each year, find A for years after retirement:
Living expenses raise by $ each year, find for years after retirement:
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