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Jack is 35 years old and is planning to retire at age 65. Based on a variety of factors, he is planning a retirement of

Jack is 35 years old and is planning to retire at age 65. Based on a variety of factors, he is planning a retirement of 20 years. Jack determines that he will need $20,000 during his 20 years of retirement. If he can invest at 9 percent, how much will he need to save beginning today to reach his goal?

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