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Guy Keehn is dreaming of retiring at the age of 66, 3 years from now. He would like his retirement plan to provide him with
Guy Keehn is dreaming of retiring at the age of 66, 3 years from now. He would like his retirement plan to provide him with $1,800 a month for 30 years (until he is 96). He currently has $109,000 in savings to deposit into a retirement plan that earns 7.2% compounded monthly. What additional amount must Guy deposit at the end of each month for the next 3 years so that he can then receive $1,800 at the end of each month for the following 30 years? A. $3,527.89 B. $3,549.06 C. $3,245.56 D. $6,313.08
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