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Charles Wilson is 30 years and wants to retire when he is 65. So far he has saved (1) $5,820 in an IRA account in
Charles Wilson is 30 years and wants to retire when he is 65. So far he has saved (1) $5,820 in an IRA account in which his money is earning 8.3 percent annually and (2) $4,250 in a money market account in which he is earning 5.25 percent annually. Charles wants to have $1 million when he retires. Starting next year, he plans to invest the same amount of money every year until he retires in a mutual fund in which he expects to earn 7.60 percent annually. How much will Charles have to invest every year to achieve his savings goal? (Round answer to 2 decimal places, e.g. 15.25.) van Sterling set your ne pans to meat the Charles will have to save TA
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