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Age 30. Retire at age 65. Expected retirement term of 17 years. $32,000 salary now, expected to grow by 1.5% per year. Defined benefit formula

Age 30. Retire at age 65. Expected retirement term of 17 years. $32,000 salary now, expected to grow by 1.5% per year. Defined benefit formula = final year's salary x # years worked x .01. Assume a...

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