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pleaae help by showing work ! please hurry Bilbo Baggins wants to save money to meet his retirement objectives. He would like to be able
pleaae help by showing work ! please hurry
Bilbo Baggins wants to save money to meet his retirement objectives. He would like to be able to retire 30 years from now with a retirement income of $13,626 per month for 20 years, with the first payment received 30 years and 1 month from now. After he passes on at the end of the 20 years of withdrawals, he would like to leave an inheritance of $752,348 to his nephew Frodo. Before his retirement, he plans to deposit $2,000 per month in Account \#1, which will earn 3.6%, and $x per month in Account \#2, which will earn 5.4\%. The post-retirement return is equal to 7.2\%. How much will Bilbo have to save in Account \#2 every month (i.e., $x ) in order to achieve his retirement objectives? Round your answer to two decimal places and input your answer as a POSITIVE number Step by Step Solution
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