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Calculate the Target Savings Rate based upon the following situation. You have 40 years until retirement Your current salary is $46,500 You want to replace

Calculate the Target Savings Rate based upon the following situation.

You have 40 years until retirement

Your current salary is $46,500

You want to replace your working salary at a 50% rate

You plan to live 40 years after retirement

You have 0 saved for retirement at this time

Find your Target Savings Rate. Please show your work.

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