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Assume that you want to retire at age 65 with $1,200,000 (future value). Assume that you are now 41 years of age. Assume that your
Assume that you want to retire at age 65 with $1,200,000 (future value). Assume that you are now 41 years of age. Assume that your investment will earn 8% compounded semiannually. How much money do you need to invest today (present value) to end up with the future value desired at retirement? You can use either the present value formula or the present value table from a previous question. Remember, you have to calculate i and n before calculating answer.
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