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Marcy Gross wants to save money to meet three objectives. First, she would like to be able to retire 30 years from now with retirement

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Marcy Gross wants to save money to meet three objectives. First, she would like to be able to retire 30 years from now with retirement income of $26,000 per month for 25 years, with the first payment received 30 years and 1 month from now. Second, she would like to purchase a cabin in Jersey Coast in 15 years at an estimated cost of $832,000. Third, after she passes on at the end of the 25 years of withdrawals, he would like to leave an inheritance of $650,000 to her daughter Rebecca Marcy can afford to save $2,400 per month for the next 15 years. If Marcy can earn a 11 percent EAR before she retires and a 7 percent EAR after she retires, how much will she have to save each month in Years 16 through 30? Multiple Choice $6,638.18 $6,770.94 O $7,854.74 $8,454.01 $6,505.42

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