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Samir is 60 years of age, he has a life expectancy of 20 more years and to spend $6400 a year (yearly) during the 20

Samir is 60 years of age, he has a life expectancy of 20 more years and to spend $6400 a year (yearly) during the 20 years. How much money need to save by age 60 to support this consumption plan? Assume an interest rate is 5%

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