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Problem 5-43 Retirement Savings (LO3) You believe you will spend $34,000 a year for 14 years once you retire in 28 years. If the interest

Problem 5-43 Retirement Savings (LO3)

You believe you will spend $34,000 a year for 14 years once you retire in 28 years. If the interest rate is 7% per year, how much must you save each year until retirement to meet your retirement goal? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Annual savings $

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