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Jeremy is planning for retirement in 40 years and believes he can earn a market return of 9% per year during the years he is

image text in transcribed Jeremy is planning for retirement in 40 years and believes he can earn a market return of 9% per year during the years he is saving for retirement. When he retires, he believes he will need monthly income from his retirement account of at least $2000 and this amount should continue for at least 20 years after he retires. If he continues to earn the same market return in retirement of 9% per year compounded monthly, what should his savings goal be as he begins saving for retirement? A. $222,289.00 B. $422,289.00 C. $522,289.00 D. $122,289.00 E. $322,289.00

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