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Sally has determined that she needs a lump sum of $875,295 at the beginning of retirement in 27 years. She is earning 6% on her

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Sally has determined that she needs a lump sum of $875,295 at the beginning of retirement in 27 years. She is earning 6% on her investments and wants to assume a 4% inflation rate. What serial payment will she need to make each year to reach this goal? $8,517 $8,681 $8,858 $9,028 $13,740

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