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9 pts Sara turned 45 years old today. Currently, she has $75,000 saved towards her retirement. She plans on working until age 65 (t =

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9 pts Sara turned 45 years old today. Currently, she has $75,000 saved towards her retirement. She plans on working until age 65 (t = 20) after which she plans on retiring. Her plan is to contribute a fixed amount to her retirement account at the end of each of the next 20 years. Her first contribution will occur in one year (t = 1), while the final contribution will occur on her 65th birthday (t = 20). Once she retires, she plans on withdrawing $125,000 annually from her retirement account. (She realizes that the purchasing power of $125,000 will decline each year with inflation.) The first retirement withdrawal will occur at age 66 (t = 21), while her 25th and final withdrawal will occur on her 90th birthday (t = 45). After age 90, she expects to have nothing in her retirement account. The retirement account is expected to generate an annual return of 10%. How much will she need to contribute to her retirement account at the end of each of the next 20 years if she wants to accomplish her goals? O $ 2,558.21 O $11,000.74 O $15.405.48 O $19.810.21 O $28.619.69

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