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A client has $75,000 in savings now, will retire 20 years from today and needs 25 payments of $62,000/year to begin then. Account is expected
A client has $75,000 in savings now, will retire 20 years from today and needs 25 payments of $62,000/year to begin then. Account is expected to earn 7%/year. How much is needed at T = 20 to fund retirement?
A. 457,375
B. 773,099
C. 318,588
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