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Nick wants to maintain the purchasing power of $ 7 5 , 0 0 0 ( in today's dollars ) in retirement. If inflation continues

Nick wants to maintain the purchasing power of $75,000(in today's dollars) in retirement. If inflation continues to average 3.5%, approximately what amount will Nick need in 20 years to equal the purchasing power of $75,000 today? (Round your answer to the nearest $5,000.)

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