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Jim is planning to retire in 5 years. He plans that he would need $200,000 in retirement account by the time of retirement for purchasing
Jim is planning to retire in 5 years. He plans that he would need $200,000 in retirement account by the time of retirement for purchasing a condo. He believes that the current investment opportunities would allow him to grow his funds at an 8% rate. How much should he contribute to his retirement account at the end of every three months?
- A. 8,031.54
- B. 8,331.34
- C. 8,231.34
- D. 8,131.54
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