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If you are going to retire in 40 years and want to have $1,000,000, how much do you have to save per month for the
If you are going to retire in 40 years and want to have $1,000,000, how much do you have to save per month for the next 40 years if you can earn a 6% annual return, compounded monthly?
A $6,461.04
B. $2,833.33
C. $1,076.92
D. $1,004.27
E. $502.14
and If you save $250 per month for the first 5 years how much do you have to save per month in the last 35 years to reach your $1,000,000 goal?
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