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Question 9 Not complete Scored out of 10.0 Sarah plans to make contributions to her IRA for 25 years. After the last contribution, she wants
Question 9 Not complete Scored out of 10.0 Sarah plans to make contributions to her IRA for 25 years. After the last contribution, she wants to start to withdraw $4500 monthly for the next 15 years. Sarah's account earns 8.5% compounded monthly before retirement and will earn 3.5% after retirement. P Flag question a) How much money should be saved for retirement? Round your answer to the nearest dollar. Answer: about $ b) How large must her monthly payments be during the 25 years of saving in order to accomplish her goal? For a more accurate calculation, use the not-rounded amount from part a), and round your final answer for part (b) to the nearest dollar. Answer: about $ Check
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