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A 3 1 year - old person plans to retire at 6 6 and live until 9 4 . During retirement, the person will take
A yearold person plans to retire at and live until During retirement, the person will take a growing annuity from the retirement account. The amount in the first year will be $ with a growth rate.
The return on savings before retirement is an after retirement is
Initial savings are zero, and the person does not want to leave a legacy at the time of death.
How much must the person save per year before retirement to achieve this goal?
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