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ou plan to retire 3 0 years from now. After retirement, you expect that you will need $ 1 0 0 , 0 0 0

ou plan to retire 30 years from now. After retirement, you expect that you will need $100,000 per year for 25 years with the first amount required at the end of the 31 year. You want to start saving for retirement and plan to make 30 equal yearly payments into your retirement account, which yields 8%. The first payment into your account will be at the end of one year from today. What should these equal payments be to satisfy your retirement needs?

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