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Information: 1. Don is 35 years old, married, lives in Missouri, and intends to retire at age 67. 2. Don and Rachel's total household AGI
Information: 1. Don is 35 years old, married, lives in Missouri, and intends to retire at age 67. 2. Don and Rachel's total household AGI is $65,000. 3. Assume they invest in their 401(k) accounts. Assume an annual return of 8.00 percent on investments Questions: 5) If they need $1.50 million at retirement, they will need to save how much per month (tax-deferred product)? 6) If they need $2.00 million at retirement, they will need to save how much per month (tax-deferred product)? 7). If they save $2,000 per month, they will accumulate how much at retirement (tax-deferred product)? 8) If they save $3,500 per month, they will accumulate how much at retirement (tax-deferred product)
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