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Mary wants to retire and receive $250,000 a year from her 401(k).She thinks she will need the money for 25 years.She thinks she can earn
Mary wants to retire and receive $250,000 a year from her 401(k).She thinks she will need the money for 25 years.She thinks she can earn 4.5% interest on her retirement account when she retires.
[1] About how much must be in her retirement account when she retires?
[2] After 25 years, about how much will be remaining in her retirement account?WHY?
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