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Question 26 (8 points) Your friend just graduated from college, turns 23 years old tomorrow, and has started HR representative from their company didn't know
Question 26 (8 points) Your friend just graduated from college, turns 23 years old tomorrow, and has started HR representative from their company didn't know anything about how to plan for ret them complaining about it. Being the financial guru that you are now. you decided to plan. What you know so far: Their estimated required rate of return is 8%. They expe 65 and would like to have a nest egg which can provide them with $5,000 per month retire (65) until they reach 100 years old (when they expect to die). NOTE: round all answers to two decimal places. If they expect to withdrawal the last $5k payment from their account on their 100 alance remaining), then how much money will they need to have set aside the day If they start saving at the end of the month (age 23), how much will they need to ach this value? ust to be safe -- they say they want to have $1.1 Million put away at age 65. Froi they withdrawal per month (equal installments) until they reach 100 years old? they decide to wait until they turn 35 (leaving them only 30 years to save), ho ribute each month to reach this value of $1.1 Million)? MacBook Pro
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