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Jorge is 2 5 years old, just graduated from UT , has a new job utilizing his UT degree, and hopes to retire at age

Jorge is 25 years old, just graduated from UT, has a new job utilizing his UT degree, and hopes to retire at age 65. Based on research, Jorge feels that he will need $1.8 million of retirement savings to comfortably enjoy the later years in life. Research also showed that Jorge can expect an average annual return of 9.5% on his retirement savings over these working years. How much needs to be invested each year to achieve this target of $1.8 million?
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