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Elaine Benes just turned 3 5 , and would like to receive annual retirement payments of $ 7 5 , 0 0 0 over a

Elaine Benes just turned 35, and would like to receive annual retirement payments of $75,000 over a 20-year period starting when she is 65 years old. Assume Elaine receives her payments at the end of each year. How much Elaine must save at the end each year for the next 30 years to achieve her goal if her investment will earn 9% compounded annually?

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