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Given that Henry want to have $572,328.93 in his retirement account when he retires in 5 years, how much must he save each month over
Given that Henry want to have $572,328.93 in his retirement account when he retires in 5 years, how much must he save each month over the next 5 years in order to achieve his retirement objective if his account earns a nominal APR of 4 percent? Can you please show me which formula to use and the inputs of the formula to get this answer, only using the calculator to find the PVIFA?
Answer: $8,632.55
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