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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
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. a) How much money should be saved for retirement? Round your answer to the nearest dollar.
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