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Need help! 76. Calculating Growing Annuities (LO1] You have 40 years left until retirement and want to retire with $5 million. Your salary k paid
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76. Calculating Growing Annuities (LO1] You have 40 years left until retirement and want to retire with $5 million. Your salary k paid annually, and you will receive $50,000 at the end of the current year. Your salary will increase at 3 percent per year, and you can earn an annual return of 9 percent on the money you invest If you save a constant percentage of your salary, what percentage of your salary must you save each yearStep by Step Solution
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