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Domingo aims to save money to achieve three objectives. To start with, he aims to retire in 3 0 years, with a monthly retirement income
Domingo aims to save money to achieve three objectives. To start with, he aims to retire in years, with a monthly retirement income of R for years, starting one month after his retirement. Secondly, he plans to acquire a cabin in Cape Town in a decade, estimated to cost R Lastly, upon his demise after years of withdrawals, he desires to leave an inheritance of R million to his nephew Jimmy. He can allocate R per month for savings over the next ten years. Given an Effective Annual Rate EAR of percent before retirement and percent after, how much must he save monthly from years to
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