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Ivan plasn to begin working in 2030 and work for 25 years before retiring. He expects to live for 40 years beyond retirement, during which
Ivan plasn to begin working in 2030 and work for 25 years before retiring. He expects to live for 40 years beyond retirement, during which time he plans to draw $65,000 per year from his retirement account to support his lifestyle. Assuming an average of 6% interest over the 65 years, how much will he need to invest annually during his working years to reach his retirement goal?
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