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Compound Interest Jack's monthly budget is $6,750. Jack's financial advisor says for retirement Jack will need about 85% of the monthly expenses adjusted for inflation

Compound Interest Jack's monthly budget is $6,750. Jack's financial advisor says for retirement Jack will need about 85% of the monthly expenses adjusted for inflation which usually averages 2.9% per year.

How much money will Jack need per month 30 years from now for retirement?

____________ Round to the nearest whole dollar. Remember to take the 85% of the Compound Interest Answer or of the Principle before you calculate.

How much money will Jack need per month 30 years from now for retirement?

____________ Round to the nearest whole dollar.

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