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Heather is planning to retire in 12 years. She will then need an income of $1,546 at the end of every month for the subsequent
Heather is planning to retire in 12 years. She will then need an income of $1,546 at the end of every month for the subsequent 25 years. She is going to make one investment today to provide all of the money she will eventually collect. Her investments will earn 7.93% compounded semi-annually. How much should she invest today?
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