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Bernie wants to retire to California when she is 6 0 years of age. Bernie is 4 0 now. She believes that she will need

Bernie wants to retire to California when she is

60

years of age. Bernie is

40

now. She believes that she will need $

900, 000

to retire comfortably. To date, Bernie has set aside no retirement money. If Bernie gets

8 %

compounded semiannually, how much must she invest today to meet her $

900, 000

goal?

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