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Sophia is 4 5 years old and aims to retire in 2 5 years. With a family history of living into their early 8 0
Sophia is years old and aims to retire in years. With a family history of living into their early s she estimates a retirement age of Sophias current salary is $ and she anticipates needing of this amount annually in retirement. She expects a return of on her investments and an inflation rate of Sophia currently has $ saved for her retirement. Her Social Security benefit at full retirement age of is estimated to be $ per year in todays dollars. Using the annuity method, how much does Sophia need to save each year at year end to meet her retirement needs?
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