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Burton wants to retire in Arizona when he is 80 Years of age. Burton who is now 55, believes he will need $500,000 to retire

Burton wants to retire in Arizona when he is 80 Years of age. Burton who is now 55, believes he will need $500,000 to retire comfortably . To date he has set aside no retirement money. If he gets an interest rate of 6% compounded annually he will have to invest today:

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