QUESTION 5 Mary wants $3.5 million for her retirement at age 65. Mary is 28 years old
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QUESTION 5
Mary wants $3.5 million for her retirement at age 65. Mary is 28 years old today and plans to deposit equal amounts each year starting on her 30thbirthday and ending on her 65thbirthday. If her investments earn 6% per year, how much must each deposit be?
- $31,408.51
- $33,859.69
- $30,859.47
- $25,985.96
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