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Sammy is 32 years old and plans to retire at age 65. She plans to move to Florida when she retires and figures she will
Sammy is 32 years old and plans to retire at age 65. She plans to move to Florida when she retires and figures she will need $45,000 to make the move. After she moves, she would like to draw $3500 per month until she is 88 years old. If Sammy can earn 9% interest on her money before retirement and then plans to switch it over to a more conservative 5% investment after retirement, how much does she need to save each month?
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