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At the beginning of each month in retirement, Walter would like to receive $3,000 for 20 years. How much money must he have at the

At the beginning of each month in retirement, Walter would like to receive $3,000 for 20 years. How much money must he have at the start of his retirement in order to have enough money to receive $3,000 for the 20 years that he expects to be retired? Assume that the rate of interest is 5% compounded annually? (Rounded to the nearest dollar) A. $447,648 B. $458,830 C. $487,218 D. $460,700

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