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Part A) You will graduate with your master's degree at age 25, you want to retire at age 65. Your goal is to live until

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Part A) You will graduate with your master's degree at age 25, you want to retire at age 65. Your goal is to live until 95 and die on your birthday completely broke by sky-diving without a parachute, SPLAT ! You won't leave any money for the kids, grandkids or great-grandkids, you blew it all, baby !!! You envision having one hell of a good time from age 65 until you die, you think you will need $360,000 a year in retirement to live the life you envision. You also consider yourself a great investor and think you can consistently earn 12% on your investments. Use the tables on the last page and show all calculations !!!! a) Calculate the amount of money you will need to have when you start retirement at age 65 (3pts) b) Now using your answer in the "a", calculate the amount of money you will need to save every year from age 25 until you retire to fund your retirement assuming you earn 12% per year. (3pts)

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