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Joseph would like to have a retirement income of $3,000 per month (month-end payments). How much must he have in his retirement fund on the

Joseph would like to have a retirement income of $3,000 per month (month-end payments). How much must he have in his retirement fund on the day that he retires if he plans to live for 32 years?

Assume that the account will earn j12=3.6%.

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