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Assume that you have 40 years until retirement and have just started your first job. Once you retire, you anticipate that you will live for

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Assume that you have 40 years until retirement and have just started your first job. Once you retire, you anticipate that you will live for 30 additional years. Assume that you will require 5100,000 per year to support yourself in retirement. All investments that you make will go into and stay in an account that returns 0.051 per year (i.e. however much you have at retirement will sit in that account and continue to accrue interest on the remaining balance. How much will you have to save each year ver the next 10 years to meet your goal? Assume that your first investment occurs at the end of your first year of work lyr 1) and that the last of your 40 investments occurs on the last day that you are employed lyr 40). For simplicity, assume that your first withdrawal is at the end of your first retirement year lyr 41)

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