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I HAVE ANSWER BELOW I JUST NEED EXPLANATION ON HOW TO GET IT PLEASE Right now you are 20 years old and want to retire

I HAVE ANSWER BELOW I JUST NEED EXPLANATION ON HOW TO GET IT PLEASE

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Right now you are 20 years old and want to retire at 65 ; if you want to have $1,500,000 in the bank when you retire, how much must you deposit each year to reach your goal if your account pays interest of 6 percent? Use time value of money factors with at least four decimal places and then round your final answer to the nearest whole dollar. 7,051 (with margin: 0 )

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