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A couple thinkIng about retirement decide to put aside $2,100 each year In a savings plan that earns 7% Interest. In 10 years they will
A couple thinkIng about retirement decide to put aside $2,100 each year In a savings plan that earns 7% Interest. In 10 years they will recelve a glft of $29,000 that also can be Invested. a. How much money will they have accumulated 30 years from now? Note: Do not round Intermedlate calculations. Round your answer to 2 decimal places. b. If thelr goal Is to retire with $710,000 of savings, how much extra do they need to save every year? Note: Do not round Intermedlate calculatlons. Round your answer to 2 declmal places
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